The Drum Awards Festival - Official Deadline

-d -h -min -sec

eBay reports profits boost

Author

By John Glenday, Reporter

January 19, 2012 | 1 min read

Internet auction house eBay has shrugged off the economic gloom to record a big increase in its quarterly profits, rising to $1.98bn for the last three months of 2011 versus $559m a year earlier.

eBay’s figures were boosted by a sale of its remaining stake in Skype to Microsoft, which when excluded from the figures reduced quarterly profits to $789m.

Profits were also given a lift by a strong performance from its online payments division, Paypal.

In a statement eBay president John Donahoe said: “We had a strong fourth quarter finish to an excellent year.

"We are a different eBay today, no longer just an e-commerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments.”

Trending

Industry insights

View all
Add your own content +