eBay posts a 52 percent jump in net profit

Online auction service eBay has come out with their latest quarterly reports and the company has posted a 52 percent jump in net profit on a 27 percent revenue rise.

eBay gained from improvement in their core business in addition to the rising prominence of international sales. The released figures easily managed to beat the market expectations cheering investors.

eBay Chief Executive Meg Whitman said in a statement: “I would say it was a very strong quarter across the board. We are actually accelerating our organic growth rate, excluding the impact of foreign exchange and acquisitions.”

She added: “I think we feel very good about the remainder of the year. We raised guidance, both top- and bottom-line.”

The company is now predicting that for the year, their revenue would range between $7.2 billion and $7.45 billion. This is above their previous revenue forecast of $7.05 billion to $7.3 billion.

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