From CNET: eBay's year got off to a strong start, with the company on Wednesday reporting better-than-expected sales and some lower costs, likely benefiting from previously announced job cuts.
The e-commerce pioneer also said its planned spinoff of PayPal will happen in the third quarter this year. The company previously disclosed that the split would occur sometime in the second half of the year.
Investors apparently liked the news, sending shares up more than 5 percent in after-hours trading.
The positive companywide numbers, though, masked over the different trajectories of eBay's two main businesses. While its PayPal payments unit continues to expand at a rapid clip, its marketplaces unit, mainly eBay.com, struggles to find new growth. The core marketplace business doesn't have much time now to figure out a plan forward before it loses PayPal as a growth engine.
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