Business

eBay third-quarter profits and sales rise

  • 17 October 2012
  • From the section Business
eBay President Devin Wenig introduces the new eBay logo
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.

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