Released on - Thursday,22 July , 2010 -00:42
Online auction star eBay said Wednesday its recent quarter profits soared with a boost from its Internet financial transactions platform PayPal.
eBay reported net income of 412.2 million dollars, or 31 cents per share, with PayPal delivering a record-high performance in the quarter ending June 30. The company's profit in the same quarter in 2009 was 25 cents per share.
"Our eBay turnaround remains on track, with strong performance in Europe, significant changes in the US and continued improvements to the buying and selling experience," eBay chief executive John Donahoe said in a statement.
"PayPal is strong and getting stronger, building a robust and innovative global footprint serving all of ecommerce."
Revenue was 2.2 billion dollars, a six percent rise from the same quarter a year earlier, according to eBay, which is based in the Northern California city of San Jose.
The company estimated its profit in this fiscal year will range from 1.23 dollars to 1.28 dollars per share on revenue of 8.8 to 9 billion dollars.
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