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Under the hammer: eBay reports solid Q4 Thursday, 19th January 2012
The internet auction site reported an impressive jump in quarterly profits.
Net income for the last three months of 2011 rose to USD 1.98 billion (GBP 1.28 billion), up from USD 559 milliom 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.
In the report eBay said part of its earnings growth was driven by a gain from the sale of its remaining stake in Skype.
Excluding exceptional gains such as this, eBay’s profit from the quarter would have been USD 789 million.
The company’s shares rose to USD 30.93 in after-hours trading, having closed regular trading at USD 30.43.
EBay’s results were also helped by a strong performance from its online payments unit PayPal.
"We are a different eBay today, no longer just an e-commerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments,” Donahoe said.