Ebay posted a net income of 673 million dollars in the third quarter, a 2 per cent decrease compared to 689 million dollars a year ago, the online auctioneer said Wednesday.<\/p>\n
Sales rose by 12 per cent to 4.35 billion dollars, the company said, citing the success of PayPal.<\/p>\n
PayPal, Ebay’s popular payments subsidiary, saw its revenue increase by 20 per cent to 1.95 billion dollars in the third quarter.<\/p>\n
Last month Ebay and PayPal announced they will separate into two independent publicly traded companies in 2015.<\/p>\n
The lucrative payment service is one of Ebay’s fastest growing segments.<\/p>\n
“As we prepare to separate Ebay and PayPal in 2015, our teams are focused on strong execution to ensure each business is set up for long-term success,” said Ebay chief executive John Donahoe in a statement.<\/p>\n
Ebay shares slipped as much as 5 per cent in extended trading following the announcement that the company reduced its full year revenue guidance to between 17.85 billion dollars and 17.95 billion dollars.<\/p>\n
Originally the company had expected revenue between 18 to 18.3 billion dollars for the year.<\/p>\n
EBay to spin off PayPal<\/a><\/strong><\/p>\n