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Ebay beats forecasts after PayPal split

If you were asking how eBay was doing after it split with PayPal, it's doing fine, thank you.

Actually, it's doing better than you might expect: it's going out, partying, and dating other people. Totally forgot about PayPal.

Lame split up jokes aside, eBay really is doing great after it split with its online payment arm, PayPal. It really is doing better than people expected, too.

According to a report by Trusted Reviews (opens in new tab), the online marketplace giant beat investor expectations with $2.1 billion (£1.36bn) in revenue, coming in just above the expected $2.09 billion (£1.35bn) mark.

Earnings per share also jumped from the expected 40 cents per share, to 43 cents per share. This is the first quarterly report from eBay since it split from its online payment arm, PayPal.

Ebay and PayPal parted ways on July 20 this year, even though the move was first announced a year earlier.

“There’s stability in the business,” said Chief Executive Devin Wenig in an interview for The Wall Street Journal (opens in new tab), pointing to customer acquisitions and overall sales on the site as evidence. “That gives us comfort to raise guidance” for the year.

Hoever, even with the impressive figures, eBay's profits are still shrinking. It's revenue is down two perc ent year-on-year.

“We traded off short-term growth and focused more on long-term investments,” said Mr. Wenig on a conference call with analysts. “We still have a lot of work ahead of us in order to reposition our business and to deliver the level of performance that we aspire to achieve.”

Sead Fadilpašić
Sead Fadilpašić

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.