EBay 4Q Earnings Up, Icahn Proposes PayPal Split


EBay said Wednesday that earnings and revenue grew in the last three months of 2013, driven by a strong year-end season for its e-commerce site and its fast-growing payments business, PayPal.

The company also said it has received a notice from activist investor Carl Icahn seeking a spinoff of PayPal. EBay said it does not believe it is best for shareholders.

“Payment is part of commerce, and as part of eBay, PayPal drives commerce innovation in payments at global scale, creating value for consumers, merchants and shareholders,” eBay said in a statement.

EBay Inc. earned $850 million, or 65 cents per share, in the October-December period — up 13 percent from $751 million, or 57 cents per share, a year earlier.

Adjusted earnings were 81 cents per share, beating analysts’ expectations by a penny.

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