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EBay reports jump in its profits | EBay reports jump in its profits |
(about 1 hour later) | |
The internet auction site eBay has reported a big jump in its quarterly profits. | The internet auction site eBay has reported a big jump in its quarterly profits. |
Net income for the last three months of 2011 came in at $1.98bn (£1.28bn), up from $559m in the same period last year. | Net income for the last three months of 2011 came in at $1.98bn (£1.28bn), up from $559m in the same period last year. |
"We had a strong fourth quarter finish to an excellent year," eBay president John Donahoe said in a statement. | "We had a strong fourth quarter finish to an excellent year," eBay president John Donahoe said in a statement. |
EBay said its earnings growth was partly driven by a gain from the sale of its remaining stake in Skype. | EBay said its earnings growth was partly driven by a gain from the sale of its remaining stake in Skype. |
Microsoft's $8.5bn acquisition of Skype was announced in May and cleared by competition authorities in October. | |
Excluding exceptional gains such as the sale of Skype, eBay's profit from the quarter would have been $789m. | |
The company's shares rose to $30.93 in after-hours trading, having closed regular trading at $30.43. | |
EBay's results were also boosted by strong performance from its online payments unit PayPal. | |
"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," Mr Donahoe said. | |