(In the third sentence, the profit development and size was corrected: plus 7.7% to 724 million dollars.)
SAN JOSE (dpa-AFX) – The online trading platform eBay closed the last Christmas quarter with an increase in sales. Revenues increased by two percent year-on-year to around 2.6 billion dollars (2.4 billion euros). The bottom line was that profit increased by 7.7 percent to $724 million, as eBay announced after the US stock market closed on Tuesday. The quarterly figures were above analysts’ expectations, and the share price temporarily rose by around four percent in after-hours trading.
Ebay is in fierce competition with, among others, Amazon and Chinese online retailers such as Temu and Shein. The number of buyers active on the platform remained unchanged at 132 million for the third quarter in a row. In the Christmas quarter of 2022 there were still 134 million.
Just in January, Ebay announced that it would cut 1,000 jobs in order to reduce costs. The cuts will affect an estimated nine percent of full-time employees, as it was said at the time. Expenses grew faster than business, eBay boss Jamie Iannone explained the layoffs in an email to employees./so/DP/he
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