EBay reports profits increase

EBay Inc. said Wednesday its fourth-quarter profit more than tripled, largely because of the sale of its Skype telecommunications business.

EBay, which runs online auctions and e-commerce sites, earned $1.36 billion, or $1.02 per share. That compares with $367 million, or 29 cents per share, in the year-ago quarter.

Revenue rose 16 percent to $2.37 billion, beating analyst estimates.