Client : PayPal Country : SingaporePublication : The Business TimesDate : 18 October 2012Topic : Mobile commerce lifts eBay profitsURL : http://www.businesstimes.com.sg/breaking-news/corporate-results-world/mobile- commerce-lifts-ebay-profits-20121018Daily :Readership 65,401Mobile commerce lifts eBay profitsSAN FRANCISCO - US online giant eBay said Wednesday third quarter profits edged up 2 per centfrom a year ago to US$597 million, driven by gains in mobile shopping and payments.The profit of 55 cents a share excluding special items was a penny ahead of Wall Street expectations.And the ecommerce firm lifted its forecast for the rest of the year."We had a great third quarter across our company, with Marketplaces and PayPal acceleratingcustomer growth," said John Donahoe, eBay president and chief executive."Mobile continues to be a game changer for us, and we continue to be a clear leader in mobilecommerce and payments. With our strong portfolio and global reach, we are consistentlydemonstrating our capabilities to help consumers shop anytime, anywhere. And we are enablingretailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."Revenue for the third quarter increased 15 per cent from a year ago to US$3.4 billion, eBay said.The Marketplaces platform allows people and small businesses to sell items online. But its PayPalonline financial transactions platform and its GSI e-commerce services arm are also growing.PayPal ended the quarter with 117.4 million active registered accounts, up 14 per cent year-over-year, and revenue increased 23 per cent.Earlier this month, eBay unveiled a new look for its website inspired by social networks, givingconsumers personalized suggestions to help them sift through the huge shopping site.
The ecommerce giant with 105 million active users will start giving its users a "newsfeed" and a"personalized homepage" with recommendations based on a users shopping history or personalinterests.The liberal use of photos on the revamped eBay site seems to mimic the fast-growing social networkPinterest. The eBay newsfeed appears inspired by Facebook and users will also get a Twitter-likeoption to "follow" products or brands. - AFP