eBay Inc. (NASDAQ: EBAY) reported Wednesday that its second quarter net income dropped to $283.4 million, or 22 cents per share, from $412 million, or 31 cents a share, in the same quarter last year. Revenue increased 25% to $2.8 billion from $2.20 billion.Analysts, on average, expected the company to report earnings of 46 cents per share on revenue of $2.48 billion.
"Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating," said eBay Inc. President and CEO John Donahoe. "We also strengthened our portfolio in Q2 with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way."
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