Ebay revenue jumps 7 percent in last push from PayPal

Ebay revenue jumps 7 percent in last push from PayPal

(Reuters) – E-commerce company eBay Inc <EBAY.O> reported a 7 percent jump in net revenue, boosted by higher demand in the PayPal Holdings Inc <PYPLV.O> payments business it plans to spin off on Friday.

The company moreover announced an additional $1 billion share buyback program.

Net income fell to $83 million, or 7 cents per share, for the second quarter ended June 30, from $676 million, or 53 cents per share, a year earlier.

p>Net revenue rose to $4.38 billion from $4.10 billion.

(Reporting by Devika Krishna Kumar & Kshitiz Goliya in Bengaluru; Editing by Don Sebastian)

Company Earnings

Source: “Reuters”

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