By Marcus Leach

eBay Inc. (NASDAQ:EBAY), have reported that revenue for the fourth quarter, ended December 31, 2011, increased 35% to $3.4 billion, compared to the same period of 2010.

Net income for the last three months of 2011 came in at $1.98bn (£1.28bn), up from $559m in the same period last year.

"We had a strong fourth quarter finish to an excellent year, increasing our confidence in our three-year outlook," said eBay Inc. President and CEO John Donahoe.

"Across eBay, PayPal, GSI and X.commerce, we have a robust portfolio of global commerce platforms and innovative mobile, local and social commerce technology assets. We are well-positioned to compete in the emerging new retail environment, and to help retailers of all sizes grow and engage their customers anytime, anywhere.

"We are a different eBay today, no longer just an ecommerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments."

The company's PayPal business continued to expand its leadership position in global payments. PayPal ended the quarter with 106.3 million active registered accounts, a 13% increase year over year.

On average, PayPal added a million new accounts every month in 2011. PayPal revenue for the quarter increased 28% year over year driven primarily by continued merchant and consumer adoption as well as increased penetration on eBay.

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