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 â€œWhen you have 84 million active users, anytime you make a change, someone is going to be upsetâ€.