Growth continues at eBay as mobile surges

Global ecommerce and payments leader eBay said its third quarter revenues increased 14% to $3.9 billion and noted exceptional strength from mobile initiatives.

Profits declined to $689 million, or 53 cents a share, compared to $837 million, or 64 cents a share, but on an adjusted basis to exclude non-recurring expenses increased to $837 million, or 64 cents a share, compared to $718 million, or 55 cents a share.

“We delivered strong third quarter results, with mobile driving a significant portion of our new user growth and continuing to transform how consumers shop and pay around the world,” said John Donahoe, eBay president and CEO. “Our scale and experience, the strength of our global commerce platforms, our technology assets and our mobile commerce capabilities strongly position us to be a leader in the commerce revolution under way.”

According to Donahoe, eBay has enabled $200 billion of commerce volume during the past 12 months, a 20% increase. That growth, he said, “demonstrates the strength of our core businesses and our power as a partner, not a competitor, to merchants, brands and retailers.”

Of note during the third quarter was cross-border trade volume of $11 billion, that represented 22% of the company’s total enabled commerce volume, or ECV, which increased 21% to $52 billion. Mobile enabled commerce volume increased 75% in the quarter, with downloads since inception on the eBay app exceeding 200 million and the company's suite of mobile apps attracting 3.2 million new customers.

The eBay payments unit, PayPal saw revenue increase by 19% to $1.6 billion as PayPal gained five million active registered accounts and ended the quarter with 137 million users.