(Reuters) – E-commerce company eBay Inc reported a 4.4 percent rise in quarterly revenue, helped by higher revenue in its payments business, which includes PayPal.

PayPal is set to be spun off later this year.

EBay reported net income of $626 million, or 51 cents per share, for the first quarter ended March 31 compared with a loss of $2.33 billion, or $1.82 per share, a year earlier.


Net revenue rose to $4.45 billion from $4.26 billion.

Revenue from the company’s payments business rose about 14 percent to $2.11 billion.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Kirti Pandey)

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