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Ebay Earnings Rise, Paypal to be Divested - Jan 28, 2015

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Ebay Earnings Rise, Paypal to be Divested - Jan 28, 2015
Ebay reported mixed quarterly earnings and revenue and also announced plans to cut 2,400 positions or about 7 percent of its workforce, as it prepares to split its PayPal and eBay marketplace businesses into two publicly traded companies. Separately, the company said it entered into an agreement with billionaire activist Carl Icahn, the company largest active shareholder, and will appoint Jonathan Christodoro, to its board. The e-commerce company posted fourth-quarter earnings of 90 cents per share, up from 81 cents a share in the year-earlier period. Revenue rose to $4.92 billion from $4.53 billion a year ago, helped by sales in it PayPal mobile payments unit and increased holiday sales. Wall Street had expected the company to deliver quarterly earnings per share of 89 cents on $4.93 billion in revenue. EBay forecast fiscal-first-quarter revenue of between $4.35 billion and $4.45 billion.
Video Added on : 29 Jan 2015 06:51 am
Video Posted Under : Business & Finance Videos

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