April 25, 2018 / 8:23 PM / 6 months ago

Ebay's profit falls 60.7 pct in first quarter

April 25 (Reuters) - EBay Inc reported a 60.7 percent drop in first-quarter profit on Wednesday, as it spent more on its ecommerce platforms to attract more customers.

The company’s net income fell to $407 million, or 40 cents per share, in the quarter ended March 31, from $1.04 billion, or 94 cents per share, a year earlier.

Revenue rose to $2.58 billion from $2.30 billion. (Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr)

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