Business News By Edwin Chan SAN FRANCISCO (Reuters) - EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon Inc and a well-publicized cyber attack. Ebays stock has fallen more than 8 percent since April, hurt by the cyber attack disclosed in May that compromised data for some 145 million customers, the departure of highly regarded PayPal chief David Marcus, and intensifying competition from both online and offline rivals. EBay was also hurt by a change in Google Incs algorithm, which pushed eBay results lower in search rankings, slowing traffic.
Posted on: Thu, 17 Jul 2014 07:42:40 +0000
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