NEW YORK: Online auction and payments powerhouse eBay said Wednesday that net profit more than tripled in the fourth quarter in part due to the sale of its remaining stake in Skype.
The San Jose, California-based company posted a fourth-quarter net profit of $1.98 billion, or $1.51 per share, compared to $559 million, or 42 cents per share, during the same quarter a year ago.
Revenue rose 35 percent to $3.38 billion in the quarter, better than the $3.32 billion expected by Wall Street analysts.
EBay said the increase in fourth-quarter earnings was "driven primarily by a gain on the sale of the company's remaining investment in Skype," which was sold to Microsoft last year for $8.5 billion.
"We had a strong fourth quarter finish to an excellent year, increasing our confidence in our three-year outlook," eBay president and chief executive John Donahoe said in a statement.
"We are well-positioned to compete in the emerging new retail environment, and to help retailers of all sizes grow and engage their customers anytime, anywhere," Donahoe said.
"We are a different eBay today, no longer just an e-commerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments," he said.
EBay said PayPal had 106.3 million active registered accounts at the end of the fourth quarter, up 13 percent over a year ago, and revenue increased 28 percent to $1.24 billion.
International revenue at its PayPal unit exceeded revenue from the United States during the quarter for the first time ever, eBay said.
Marketplaces revenue was up 16 percent to $1.77 billion.
EBay said it expects revenue of between $3.05 billion and $3.15 billion in the current quarter, slightly below analyst forecasts of $3.16 billion.
EBay shares were up 2.44 percent at $31.08 in after-hours trading.
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