Friday 24 January 2020

eBay reports better esults due to strong PayPal performance reporters

EBAY has reported a 20pc increase in net income to $570m (€434m) boosted by a strong performance by PayPal.

Revenues rose by 29pc to $3.3bn in what chief executive John Donahoe called a “strong start of the year.”

He added that PayPal, GSI Commerce and Marketplaces showed continuing momentum.

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

PayPal ended the quarter with 109.8 registered accounts, recording a 12pc increase from the same period a year earlier.

Revenue at the service was 32pc higher than the same three months in 2011, the company said.

PayPal handled $34bn worth of transactions in the quarter.

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