Mobile commerce drives eBay growth in Q3

San Jose, Calif. -- eBay, which reported income and revenue growth for its third quarter, is seeing increased strength in its mobile business as more customers are turning to their smartphones to shop.

eBay reported that revenue for the third quarter ended Sept. 30 increased 32% to $3 billion, compared with the same period of 2010. The company reported third-quarter net income on a GAAP basis of $490.5 million, up from $432 million in the year-ago period.

“Our company reported another strong quarter, with eBay, PayPal and GSI each performing well," said eBay president and CEO John Donahoe. "Mobile commerce continues to accelerate as consumers change the way they shop and pay. We expect eBay mobile commerce to generate almost $5 billion in merchandise volume this year and PayPal mobile to exceed $3.5 billion in payment volume. Mobile is one way online and offline shopping are blending into a single commerce environment. We are focused on enabling commerce, helping consumers shop anytime, anywhere, and being the commerce partner of choice for retailers of all sizes."

PayPal ended the quarter with 103.0 million active registered accounts, a 14% increase year-over-year, eBay reported. PayPal revenue increased 32% year-over-year driven primarily by increased penetration on eBay as well as continued merchant and consumer adoption. PayPal's net total payment volume grew 31% to $29.3 billion in third quarter 2011 compared with the same period of last year.

Login or Register to post a comment.