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eBay Reports Quarterly Growth, Partly Driven By Sale of Skype

4:45 pm on Jan 19, 2012 (gmt 0)

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eBay Reports Quarterly Growth, Partly Driven By Sale of Skype [bbc.co.uk]
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.

"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.

Microsoft's $8.5bn acquisition of Skype was announced in May and cleared by competition authorities in October.

8:01 pm on Jan 19, 2012 (gmt 0)

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Most people on eBay are reporting drops in sales. Would have to see the detail but I suspect that the sale of Skype and Paypal were the primary drivers for the increased net income.

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