Despite second quarter financials that were on par or slightly better than predicted, eBay had a “challenging quarter” and took significant “body blows” after a breach prompted the company to ask users to reset their passwords and PayPal President Dave Marcus stepped down, CEO Jack Donahoe said during a Wednesday evening earnings call, according to a report in SCMagazineUK.com.
Fueled in part by a net increase of 20 percent year-to-year in PayPal's net sales, San Diego-based reported Q2 revenues of $4.37 billion, a 13 percent increase over the year before, and a six percent uptick in earnings to $676 million.
But Donahoe contended that the password reset, which drew criticism from some, had resulted in a decline in user activity that has yet to reach previous levels. “The focus now is on recovery,” he said.
