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Mobile commerce lifts eBay profits
by Staff Writers
San Francisco (AFP) Oct 17, 2012


US online giant eBay said Wednesday third quarter profits edged up two percent from a year ago to $597 million, driven by gains in mobile shopping and payments.

The profit of 55 cents a share excluding special items was a penny ahead of Wall Street expectations. And the ecommerce firm lifted its forecast for the rest of the year.

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

"Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments.With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."

Revenue for the third quarter increased 15 percent from a year ago to $3.4 billion, eBay said.

The Marketplaces platform allows people and small businesses to sell items online. But its PayPal online financial transactions platform and its GSI e-commerce services arm are also growing.

PayPal ended the quarter with 117.4 million active registered accounts, up 14 percent year-over-year, and revenue increased 23 percent.

Earlier this month, eBay unveiled a new look for its website inspired by social networks, giving consumers personalized suggestions to help them sift through the huge shopping site.

The ecommerce giant with 105 million active users will start giving its users a "newsfeed" and a "personalized homepage" with recommendations based on a user's shopping history or personal interests.

The liberal use of photos on the revamped eBay site seems to mimic the fast-growing social network Pinterest. The eBay newsfeed appears inspired by Facebook and users will also get a Twitter-like option to "follow" products or brands.

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Tech to drive US holiday spending: survey
Washington (AFP) Oct 16, 2012 - New high-tech devices will get US consumers to open their wallets for the upcoming holiday season, driving retail spending higher, a survey showed Tuesday.

The Consumer Electronics Association found overall holiday spending is expected to increase 11 percent this year while spending on consumer electronics gifts also likely will increase.

"Consumers are feeling more confident in the overall direction of the economy this holiday season compared to last year and, as a result, will spend more on gifts, including electronics," said CEA chief economist Shawn DuBravac.

On average, consumers plan to spend $1,634 overall this holiday, up 11 percent from last year, the survey found.

Consumers plan to allocate $842 from their overall budget to gifts, up nine percent from 2011, and $252 of that will be for consumer electronics.

Mobile connected devices are the most wanted gifts this season, led by tablet computers, the association said.

Tablets are the most wanted gift on both adults' overall holiday wish list and their gadget wish list.

The survey suggested smartphones likely will be the most popular device given as a gift this year, followed by tablets, notebook or laptop computers and DVD or Blu-ray players.

One in four consumers will give a gift card for digital music purchases, one in five for electronics book purchases, 16 percent for app purchases and 15 percent for online gaming purchases.



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BHP chief says China steel surge has peaked
Sydney (AFP) Oct 17, 2012
BHP Billiton chief Marius Kloppers said on Wednesday that China's steel surge had peaked and iron ore and steel growth was likely to decline, as the miner delivered a mixed quarterly production report. BHP produced 39.77 million tonnes of iron ore in the three months to September 30 - just one percent higher than a year earlier and three percent lower than the preceding quarter as China's s ... read more


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