eBay Reports Increase In Q1 Profits, To $725 Million

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eBay Reports Increase In Q1 Profits, To $725 Million [bbc.co.uk]

Online retailer and auction site eBay has reported an increase in first-quarter sales and profit.

EBay said first-quarter profit was $725m (£453m), up from $619m a year earlier. Revenue was $3.3bn, up 29% on 12 months ago.

Results were again boosted by strong performance from its online payments unit Paypal, which accounted for about 40% of total revenues.

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Just wait to see the result from Amazon.

The only reason ebay was up 29% on last year s was the have GSI now and Paypal is doing well, and they are making extra cash on free shipping.