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EBay reports profits up 11 percent
San Francisco: Online auction leader eBay Wednesday reported an 11-percent rise in quarterly profits, as revenue grew in its core businesses of auctions and its Paypal online payment system.
The Internet pioneer said that it earned $398 million in its fiscal first quarter, compared to earnings of $357 million year ago. Revenue rose 9 percent to $2.2 billion, an 18-percent rise from last year.
EBay chief executive John Donahoe said the increases reflected changes designed to attract and retain more shoppers: 'There's no doubt we're seeing growing traction as these changes begin to build on top of each other.'
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San Francisco: Online auction leader eBay Wednesday reported an 11-percent rise in quarterly profits, as revenue grew in its core businesses of auctions and its Paypal online payment system.
The Internet pioneer said that it earned $398 million in its fiscal first quarter, compared to earnings of $357 million year ago. Revenue rose 9 percent to $2.2 billion, an 18-percent rise from last year.
EBay chief executive John Donahoe said the increases reflected changes designed to attract and retain more shoppers: 'There's no doubt we're seeing growing traction as these changes begin to build on top of each other.'
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