eBay Sees Net Income Double in Quarter

Posted on 19 Jul 2012 at 7:05am
ebay income doubled

eBay reported net income of $ 692m (£442m) for the three months to the end of June, up from the $ 283m the company made in the same period a year earlier. Online retailer and auction site eBay has said its income doubled in the second quarter after higher revenue from its PayPal payment business. Income from its e-commerce websites was also higher.

Revenue for the business rose by 23% to $ 3.4bn, slightly above analysts’ expectations of $ 3.36bn. eBay said its marketplaces business, which includes its main auction website, saw the fastest growth since 2006. Earlier on Wednesday, a blog by an e-commerce software provider highlighted a speech made last month by eBay executive Devin Wenig in which he said the active user base on eBay’s online marketplace was growing at more than 10% a year.