Consoles boost eBay profits

January 26th, 2007, 01:42 Posted By: wraggster

via mcv

The global rush to buy up hard to find Wii and PS3 hardware has helped eBay achieve one of its strongest ever quarters of growth, according to its recent financials.
The Times reports that in the three months ending December 31st eBay enjoyed a like-for-like profit increase of 24 per cent compared to the same period the year before. Revenue for the period exceeded $1.7 billion – a rise of 29 per cent year-on-year. Net income rose to $346 million whilst total sales reached $14.4 billion.

The UK, along with Germany, was named as one of the biggest growth areas for the site.

eBay chief executive Meg Whitman stated: “The fourth quarter was an excellent quarter for eBay, bringing 2006 to a very good close.”

Other eBay owned businesses also posted impressive performances, with internet telephone firm Skype and online payments company PayPal seeing revenue increase by 164 per cent and 37 per cent respectively.

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