eBay revenue jumps 20% during Jan-Mar

NEW YORK: The first-quarter net income of eBay rose 20% due to the stronger revenue from its PayPal business along with brisk sales at its e-commerce websites.

eBay Inc stated that it earned $570 million during the January-March period of 2012, witnessing rise as compared to $476 million a year ago quarter.

Revenue jumped 29% to $3.28 billion as against $2.55 billion.

It is believed that the e-commerce and online payments firm has been spreading its wings into brick-and-mortar retailers for boosting its growth. It recently unveiled a service that allows people to use their PayPal accounts to pay for their merchandise in Home Depot stores.

The revenue at PayPal rose 32% as compared to last year at $1.31 billion, while the number of active accounts rose 12% to 109.8 million.