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EBay Revenue Up, Profit Down

EBay said revenue grew 5.6 percent, in a third straight quarter of gains, on the back of its latest initiative to transform the online retailer’s search results and image.

The online sales platform posted US$2.22 billion in revenue for its third quarter, compared with last year’s $2.1 billion. Net income of $413 million was lower than the $539 million, the company posted a year ago.

The company forecasts fourth-quarter revenue of $2.36 billion to $2.41 billion.

It has struggled after its split with PayPal and has launched a rebranding effort to shed its legacy image as an auction-style garage sale to a trendier younger audience.

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