Transactions on eBay & PayPal mobile to reach $10 bn in 2012

Mobile has been the game changer for eBay, according to its latest earning figures. With more and more people relying on mobile devices to shop, bank and discover, both eBay and PayPal mobile each expect to make transactions worth $10 billion in 2012.

The profits of eBay rose to $692 million in the three months to the end of June 2012, up from $283 million in the same period in 2011. At the same time, the revenue rose 23% to $3.4 billion.

eBay CEO John J. Donahoe said,”As we consistently execute against our three-year growth plans, there is no question that an inflection point is occurring in retail.Mobile is revolutionizing how people shop and pay, becoming the digital nexus of consumers’ lives. They want what they want, when they want it, anywhere, anytime.”

Founded in September of 1995 , eBay is a global online marketplace which generates most of its income by charging merchants to list items for sale. Besides this, it also generates revenue from PayPal transaction fees.

via: bizreport

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