eBay sees quarterly profits rise

Online auction site eBay has reported an increase in first quarter sales and profit.eBay sees quarterly profits riseEBay said first quarter profit was £453 million ($725 million) , up from £386 million a year earlier. Revenue was £2.06 billion, up 29% on 12 months ago.

Results were again boosted by strong performance from its online payments unit Paypal, which accounted for about 40% of total revenues.

EBay’s shares, down by 0.58% at close, rose by 3.2% in after hours trading.

The company’s chief executive, John Donahoe, said it had been a “strong start to the year”.

“We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop,” he added.

“We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want.”

June 21, 2012  Tags: , , , , , , , , ,   Posted in: Business Growth, Business Sales, Business Win, Digital Business, Ecommerce Business, Global Business, Growing Business, Growing Sales, Online Marketing, Technological Businesses, Uncategorized, Winning Websites

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