EBay 2Q net profit rise 6%

EBay posted a net income of 676 million dollars, or 0.53 cents per share, in the second quarter, a 6% increase compared to a year earlier, the online shopping website said Wednesday.
The online auctioneer reported a revenue increase of 13% to 4.4 billion dollars compared 3.9 billion dollars in the second quarter of 2013.
"PayPal generated another strong quarter, while eBay's growth was hampered by its global password reset for all users," eBay Inc. president and chief executive John Donahoe said.
"We continued our momentum in the four competitive commerce battlegrounds of mobile, local, global and data," he added.
PayPal, eBay's popular payments subsidiary, saw its net total payment volume rise 29% compared to the year-ago quarter. PayPal's revenue for the period was 1.9 billion dollars, eBay said.
In May, eBay asked millions of users to change their passwords after a cyber-attack exposed its database to hackers.
The California-based company said that hackers penetrated its computer system by compromising a small number of employee log-in credentials, but said there was no evidence that the attack resulted in any unauthorized financial activity or that it affected PayPal users.