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Ebay Q4 profits driven by 200% increase in mobile commerce sales

E-commerce and online payments firm, Ebay, has reported increased sales and profits for the fourth quarter of 2010 compared with 2009 after strong growth in mobile commerce sales.

E-commerce and online payments firm, Ebay, has reported increased sales and profits for the fourth quarter of 2010 compared with 2009 after strong growth in mobile commerce sales.

The company recorded Q4 profit of $559.2m (£350m), an increase of 24% compared with the same period of 2009. Sales were up 5% to $2.5bn (£1.6bn) compared with 2009 figures.

In 2010, Ebay said it generated $2bn (£1.3bn) in global sales through mobile devices, an increase by more than 200% on 2009 driven by the introduction of barcode scanning technology and smartphone applications.

John Donahoe, chief executive at Ebay, said, "In 2011, we expect the value of sales through mobile to double to $4bn (£2.5bn). Mobile is clearly becoming a new way people shop."

"Our mobile apps have been downloaded more than 30 million times, in eight languages, across 190 countries," he added.

Clare Gilmartin, vice president at Ebay Europe, said the UK e-commerce site was 10% higher than the UK average after business sellers experienced growth of more than 20% year-on-year.

Bloomberg reported Ebay's online payments business, including PayPal and Bill Me Later credit service, pulled in sales of $971m (£608m).

In 2009, Ebay sold a majority stake in its Skype internet telephony division, which, according to Donahoe, did not fit Ebay's core e-commerce business.

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