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eBay CEO 'Unsatisfied' With Q2 Results

eBay's second-quarter results have exceeded Wall Street estimates - but online auction giant's CEO says he's not content with the firm's performance.

The company reported a 26 per cent rise in profits. year on year, up from $327 million last year to $412 million, thanks to the record-breaking performance by the company's online payment service, PayPal, and a rise in sales in European markets.

eBay's online business rose by 20 per cent, whilst overall revenue rose 6 per cent to $2.2 billion, outstripping the $2.16 billion analysts had expected.

In the US, however, the company reported a rise of just two per cent - well short short of its own expectations.

During a conference call with market analysts, eBay's chief executive office, John Donahoe, said: “We are not satisfied with our US results.”

He also voiced concerns over the strengthening value of the dollar, which has resulted in the reduction of the value of sales abroad.

The company has lowered its profits forecast for the year, anticipating further rises in the value of dollar later in the year.