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PayPal boosts eBay revenue [Khaleej Times (United Arab Emirates)](Khaleej Times (United Arab Emirates) Via Acquire Media NewsEdge) Investors had been braced for a tough quarter. EBay Inc posted a 13 per cent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a well-publicised cyber attack. Investors had been braced for a tough quarter. Ebay's stock has fallen more than eight per cent since April, hurt by the cyber attack disclosed in May that compromised data for some 145 million customers, the departure of highly regarded PayPal chief David Marcus, and intensifying competition from both online and offline rivals. EBay was also hurt by a change in Google Inc's algorithm, which pushed eBay results lower in search rankings, slowing traffic. That slowdown was seen in June in a measure of transactions across eBay's core Marketplaces platform, known as gross merchandise value, with the growth rate falling to 7 per cent from around a double-digit pace in previous months. (c) 2014 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |