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| eBay reports jump in its profits | |
| (about 7 hours 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. | 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. | 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. | 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. | 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. | "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. |