eBay profits rise 20%

July 17, 2008

Despite the much-hyped credit crunch eBay still managed a 20% increase in profits for the quarter ending 30th June 2008 (Q2). The worlds largest and most popular online auction site made $568m (approx £285m) profit with revenues up from $1.8bn (£900m) to $2.2bn (£1.1bn).

The profits will come as a surprise to most sellers who staged a protest at the auction giants recent actions; attempting to force PayPal in Australia, banning negative feedback for buyers and a change in their search.

Recently appointed CEO John Donahoe was unsurprisingly happy with the results and admitted not everyone was happy with the changes he had made stating “When you have 84 million active users, anytime you make a change, someone is going to be upset”.