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Published October 22, 2009, 08:01 AM

EBay net income down; revenue rises

EBay Inc. said that even as third-quarter net income dipped 29 percent, its revenue rose largely because more people and merchants are using PayPal to pay for things online.

SAN FRANCISCO (AP) — EBay Inc. said that even as third-quarter net income dipped 29 percent, its revenue rose largely because more people and merchants are using PayPal to pay for things online.

The San Jose, Calif.-based company said the number of active PayPal accounts rose 19 percent to 78 million compared with a year earlier. That contributed to a 15 percent revenue jump to $688.1 million in its payments business — which includes PayPal and short-term credit service Bill Me Later.

But eBay’s core marketplaces business, which includes the main eBay site and other sites like Shopping.com, saw revenue dip 1 percent to $1.4 billion.

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