It has been reported that online retailer eBay had better-than-expected profit results despite the strong dollar hurting the company’s results.
eBay reported that for the first three months of this year profits were $626 million (£416 million), and revenues were $4.45 billion which is a 4% rise from the previous year, however they said the "strengthening dollar significantly impacted first quarter results," adding without the currency headwind, revenue would have been 7% higher and PayPal’s currency variations was less severe, hurting revenue by 3%.
Chief executive of eBay, John Donahoe said "I feel very good about the performance of our teams at eBay and PayPal. Each business is executing well with greater focus and operating discipline as we prepare to separate eBay and PayPal into independent publicly traded companies."
