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EBay posts higher 1Q net income and revenue

EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.

 

EBay Buys Mobile-Payments Firm Zong

EBay paying $240 million to buy closely held Zong, a provider of mobile payments, as the e-commerce giant seeks to strengthen its PayPal business.

 

eBay shares receive Paypal boost

Shares in eBay jump almost 8% after the online auction site's Paypal unit said its revenues would double by 2013.

 

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