Ebay on Wednesday reported third-quarter earnings that suggested the company, the world’s largest e-commerce site, was regaining its footing after several years of poorer than expected performance.

Revenue was up 6 percent to $2.2bn, but profits were down 29 per cent to $350m, or 27 cents a share. The drop in profitability was attributable to the recent acquisition of Bill Me Later, a credit service Ebay has integrated into its marketplaces and PayPal, and a general shift towards lower-margin but fast growing businesses.