Mobile a game-changer for eBay

The online auction giant reported profits of $692 million in the three months to the end of June, up from $283 million in the same period a year earlier. Meanwhile, revenue rose 23% to $3.4 billion. The website's Marketplaces business also saw the strongest growth rate in six years.

As more people rely on mobile devices to shop, bank, and discover, mobile has been a game-changer for eBay. The company announced it expects eBay and PayPal mobile to each transact $10 billion in volume this year - double that of 2011.

"As we consistently execute against our three-year growth plans, there is no question that an inflection point is occurring in retail," said CEO John J. Donahoe. "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."

eBay makes most of its income by charging merchants to list items for sale. It also generates revenue from PayPal transaction fees. eBay also owns StubHub, the ticket-selling website, Shopping.com, and GSI Commerce, a provider of e-commerce and online marketing services.

Tags: auction website, e-commerce, eBay, m-commerce, marketplace, mobile apps, mobile commerce, mobile payments, mobile web, retail, smartphone