Paypal eclipses eBay after their split

The eBay and its PayPal payments division will be splitting in to two.

PayPal revenue  grew 16 per cent  in the second quarter.  After the fall out from cyber attack and slower customer activity last year resulted in revenue declines at the eBay marketplace.

The combined company will take a £512m ($800m) write down on its eBay Enterprise business, which it agreed to sell to a consortium  led by the private equity firm Permira for £592m ($925m).

The combined eBay and PayPal  revenues  posted were up 7 per cent to £2.8bn ($4.37bn) for the second quarter.

 

 

 

 

 

 

 

 

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