EBay profit falls after PayPal split

The internet trading platform said revenue fell by 2.4 per cent to $2.1bn (£1.36bn) from $2.15bn last year but the company points out if changes to the level of exchange rates are stripped out, trading volume was up 6 per cent.

It makes 50 per cent of profits outside the US, reports The BBC.

Net income fell to $539m from $673m a year earlier.

Ebay celebrated 20 years in business this year. It split its PayPal business into a separate company in July.

The company, which has 159 million active buyers, said its classifieds and StubHub ticket re-sale businesses had both had strong quarters and remained key company assets.

The results sent shares in eBay up almost 9 per cent in after hours’ trading.

EBay’s president and chief executive, Devin Wenig, said: “We… marked eBay’s 20th anniversary and made progress on executing our strategy to reposition the company to deliver stable and profitable long-term growth.”