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eBay sees 14% rise in profits Thursday, 20th October 2011
The online auction company said net income for the three months to the end of September stood at USD 491 million (GBP 311 million) up from USD 432 million for the same period last year.
EBay attributed the growth to increased activity on its online marketplaces and greater use of its PayPal payments network.
However, after-hours trading for the company added a sour taste to the results, with company shares falling 5 per cent to USD 31.45.
"Investors were assuming there would be upside surprise in earnings or the guidance," said Fred Moran, an analyst at the Benchmark Company speaking to the BBC.
"They maintained their full-year forecast essentially, which reflects a little caution around the global economy."
In his results statement, chief executive John Donahoe underlined the importance of the company's applications for mobile phones.
"Mobile commerce continues to accelerate as consumers change the way they shop and pay," he said.
"We are focused on enabling commerce, helping consumers shop anytime, anywhere, and being the commerce partner of choice for retailers of all sizes."
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Posted in E-Commerce, Online retail Tagged ebay, benchmark company, fred moran, john donahoe, m-commerce, e-commerce, online, auction
