Paypal power helps eBay profit climb as sales rise
Fourth-quarter profits at eBay more than tripled to 1.36 billion dollars, driven by a healthy shopping season and "excellent growth" at its Paypal division, the online auctioneer said Wednesday, dpa reported.
Revenue jumped 16 per cent to 2.37 billion, while gross merchandise volume, excluding vehicles, jumped 24 per cent to 14.2 billion dollars in the quarter.
Asia Pacific was the company's fastest growing region, where the value of listings grew almost 50 per cent from last year, eBay chief executive John Donahoe said.
"We delivered a strong fourth quarter with double-digit revenue growth driven by exceptional performance at PayPal and turnaround progress and momentum in our core eBay business," he said.
"PayPal significantly expanded its presence globally and, for the first time, processed more than 20 billion dollars in total payment volume in a quarter."