Revenue, Profits up at eBay
Internet-based companies can make a comeback
Quarter by quarter, eBay defies the conventional wisdom that troubled Internet companies can never return to their former glory. The company has continued a successful turnaround in its once-troubled Internet marketplace business, and cultivated double-digit growth in PayPal, its online payments system.
EBay reported Wednesday that its net income in the third quarter rose to $597 million, or 45 cents a share, a 22 percent jump from the quarter a year earlier.
The company said revenue climbed 15 percent to $3.4 billion, just below the $3.41 billion that Wall Street analysts expected.