Auction site eBay continues to impress investors, thanks in large part to the ongoing success of PayPal.
Late Wednesday, eBay reported better-than-expected earnings and revenue for its latest quarter. And while the company issued slightly weaker guidance for the current quarter, its full-year outlook was rosier.
Shares of eBay (EBAY) rallied nearly 4% to a new 52-week high Thursday. The stock has been on a tear, soaring 41% over the past six months.
eBay credits the growing success of PayPal, which recorded a 250% surge in mobile payment volume in 2012 to nearly $14 billion as more consumers used mobile devices to satisfy their shopping appetites. In fact, PayPal ended the year with roughly 123 million registered accounts, up 15% year over year.
"Mobile continues to rewrite the commerce playbook, and we continue to be a mobile commerce and payments leader," said eBay CEO John Donahoe.
And StockTwits traders seem to agree.
That's not necessarily a bad thing is it? eBay can't count on PayPal to be its only cash cow. In fact, the company's Marketplaces biz is gaining some nice traction, delivering a record revenue of $2 billion in the fourth quarter.
All of that is true but also keep in mind that the fourth quarter is holiday shopping season so it's not a huge surprise that there would be a spike in sales. I know I did 90% of my shopping online this year. But it does seem like eBay is doing a good job of staying in tune with consumers' fickle behavior.
Cyber Monday has been good to eBay.
Shares of the auction site hit a 52-week high Thursday, just days after logging strong gains on one of the most important online shopping days of the year for retailers.
It's not just online shopping that's attracting consumer interest. All in all, it looks like consumers are increasingly getting more comfortable with paying for their purchases on mobile devices.
eBay (EBAY) also got a boost MORECatherine Tymkiw - Nov 29, 2012 11:49 AM ET
Italy's borrowing costs continue to fall as investors bet the European Central Bank will backstop the nation's massive bond market.
The Italian government sold €2.9 billion worth of 10-year bonds Thursday at a yield of 4.45%, down from 4.92% at the previous auction in October. It also sold €3 billion of 5-year notes at a yield of 3.23%, compared with 3.80% last month. Yields and prices move in opposite direction.
In the MOREBen Rooney - Nov 29, 2012 10:38 AM ET
Make no bones about it, dinosaur remains are worth a pretty penny on the black market.
Federal prosecutors on Wednesday charged a Florida man with illegally importing dinosaur fossils from Mongolia and China, including a Tyrannosaurus bataar skeleton that sold for more than $1 million at auction.
The man, Eric Prokopi, was arrested by federal agents at his home in Gainesville, Fla., and will appear in court this afternoon, according to MOREBen Rooney - Oct 17, 2012 1:43 PM ET
Italy faced its first in a series of debt auctions Wednesday and it wasn't pretty.
The government sold 6.5 billion euros of 1-year notes at an average yield of 3.97%. That's sharply higher than the 2.34% yield at last month's auction and may signal further trouble ahead.
Italy's borrowing costs have been creeping higher as investors worry the country may be headed closer to bailout territory. The yield on Italy's 10-year MORECatherine Tymkiw - Jun 13, 2012 9:47 AM ET
Spain plans to auction up to 2 billion euros worth of bonds Thursday in what could be an important test of the government's ability to raise money from investors.
Days after the Spanish treasury minister said the government is in danger of being shut out of the market, Madrid will offer between 1 billion and 2 billion euros worth of 2-year, 4-year and 10-year bonds.
Spanish bond yields have been rising recently MOREBen Rooney - Jun 6, 2012 2:34 PM ET
|Facebook and Microsoft are building a giant cable under the sea|
|'X-Men: Apocalypse' is weighed down and doesn't take off|
|'Captain America' twist stuns comic book world|
|SWIFT hackers nicknamed 'Lazarus' hit a fourth bank in Philippines|
|Sears may sell Kenmore and Craftsman brands|