eBay reports 32% sales increase as Paypal and mobile fuel growth

E-commerce and online payments firm eBay has increased its profits and sales year-on-year after continued growth in its Paypal business and mobile commerce channels. Profits increased 14% from $432m in 2010 to $491m at the end of the quarter.

Jenny Williams is a correspondent for Computer Weekly.

She supports the technology team as well as covering mobile and desktop computing.

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jenny.williams@rbi.co.uk

E-commerce and online payments firm eBay has increased its profits and sales year-on-year after continued growth in its Paypal business and mobile commerce channels.

In its third quarter financial results ending 30th September 2011, the company reported a 32% increase in sales to $3bn compared to $2bn in 2010.

Profits increased 14% from $432m in 2010 to $491m at the end of the quarter.

John Donahoe, eBay president and CEO, said its Paypal and Marketplace businesses as well as mobile commerce fuelled growth.

Donahoe expects Paypal to increase eBay's mobile total payment volume (TPV) to $3.5bn in 2011, up from $750m in 2010.

"Mobile commerce continues to accelerate as consumers change the way they shop and pay. We expect eBay mobile commerce to generate almost $5bn in merchandise volume this year and PayPal mobile to exceed $3.5bn in payment volume. Mobile is one way online and offline shopping are blending into a single commerce environment," said Donahoe.

eBay's Marketplaces business increased sales by 17% year-on-year to reach $1.7bn from $1.4bn in 2010.

Paypal sales increased 32% year-on-year and ended the quarter with 103 million active registered accounts, comprising a 14% increase year-on-year.

Downloads of eBay's mobile applications reached over 50 million globally since the launch in 2008.

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