EBay’s third quarter earnings seem to have received a boost from PayPal business and mobile commerce. EBay generated $3 billion in revenue for the third quarter, up 32 percent. Income was up 14 percent over the same period. PayPal generated $1.1 billion in revenue, leading eBay CEO John Donahoe to remark that mobile is crucial to his company’s future. “I think this is an enormous opportunity for payments,” Donahoe told reporters. “It’s a huge market and it’s the next chapter in PayPal’s playbook.”
He said PayPal plans to test a new in-store system at an undisclosed retailer this year, and that a full launch may take place next year. EBay forecasted revenue between $3.2 billion and $3.35 billion for the end of the fourth quarter.
PayPal now counts 103 million active registered users, a 14 percent increase over last year. The company’s net total payment volume also increased, up 31 percent to $29.3 billion this past quarter.
Read more at GigaOM.
