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eBay delivers strong fourth quarter results

eBay delivers strong fourth quarter results
Friday January 20 2012

eBay has announced a strong growth in profits for the last quarter of 2011

The company reported that revenue had increased by 35 per cent on a year-on-year basis, climbing to $3.4 billion (£2.2 billion).

Its ownership of payments service PayPal also delivered profit for the business, with the online cash processing facility picking up an average of one million new customers a month over the period.

eBay president and chief executive officer John Donahoe said the positive figures have increased confidence in the three-year plan set out by the company.

"We are well-positioned to compete in the emerging new retail environment and to help retailers of all sizes grow and engage their customers anytime, anywhere," he added