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Thursday, October 20, 2011

eBay quarterly results show the increasing value of mobile transactions

eBay has reported its financial results for the third quarter of 2011. Revenue was up 32% year-on-year to $3.0 billion (£2.6 billion), with net income up to $490.5 million.

John Donahoe, President and CEO of eBay, said “Our company reported another strong quarter, with eBay, PayPal and GSI each performing well. 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.”

The company’s PayPal business ended the quarter with 103.0 million active registered accounts, having handled $29.3 billion in payments during the third quarter of 2011. This year’s forecast of more than $3.5 billion paid by mobile phone is up from $750 million in 2010.

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Author: The Fonecast
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