17 October 2012 Last updated at 17:37 ET

eBay third-quarter profits and sales rise

EBay president Devin Wenig introduced the company's new logo last week

Online retailer and auction site eBay has reported a rise in third-quarter sales and profits, as more consumers used the site, as well as its payment service PayPal.

Net profit for the three months to the end of September rose 14% from a year earlier, to $718m (£445m), eBay said.

Net revenues rose 15% to $3.4bn.

The company has been looking to take advantage of the increasing number of people who use smartphones to shop and pay for things.

"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," chief executive John Donahoe said in a statement.

"Mobile continues to be a game-changer for us, and we continue to be a clear leader in mobile commerce and payments."

The group forecast sales of between $3.85bn and $4bn for the fourth quarter.

EBay shares fell nearly 1% in extended trading in New York after its results came out.

"Not as overpowering a beat as the last couple of quarters, but they do appear on track," said Gil Luria, an analyst at Wedbush Securities.