EBay's fourth qtr net income declines

NEW YORK: eBay Inc has reported a 59% fall in the net income to $559.2 million during October-December but overall revenues of the online marketplace surged 5%. The entity had a net income of $1.35 billion during the fourth quarter (Oct-Dec ) of 2009 calender year, eBay said in a statement.

eBay Inc’s net income fell 59% compared with a year-ago period despite the numbers getting a boost of $1.4 billion gain from the sale of its internet-telephone unit Skype. But excluding Skype and other one-time items, eBay's net income increased 24% from a year earlier . The company's PayPal business expanded its leadership position in global payments.