eBay Inc. (NASDAQ: EBAY
) Share price YTD:
Donahoe became CEO of eBay in early 2008. Wall St. questioned whether eBay’s core auction business could survive competition from online giant Amazon.com Inc. (NASDAQ: AMZN
) and an army of smaller online auction firms. Most investors admired eBay’s PayPal online payment system, while the legacy auction business hampered overall corporate earnings growth. That has changed. In the third quarter, the results of the renewed drive into the auction business showed. Marketplace revenue rose 9% to $1.8 billion of eBay’s total revenue of $3.4 billion. The company also has had success in the critical mobile market, which has taken on additional importance as more and more e-commerce is done on smartphones. In the most recent quarter, 800,000 of the company’s new users came from mobile as, according to the company, downloads of eBay’s suite of mobile apps have surpassed 100 million globally.
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