Internet commerce is becoming more and more common and eBay, the e-commerce pioneer, says that it enjoyed its best year to date in 2012. The company said shoppers flocked to its site in search of bargains and used its payment service, which helped lift eBay to fourth quarter earnings that exceeded Wall Street projections.
The results helped to give eBay its best year since it was founded in 1995. At that time, the thought of purchasing merchandise via the Internet seemed somewhat absurd. However, since that time, e-commerce has become an every second occurrence on the Internet for millions worldwide. Because of that, eBay has become a big success and one of Wall Street’s favorites.
However, as the world of technology evolves and the use of tablet computers and smartphones become more and more popular it has changed how, many consumers shop online. In order to retain those customers and remain a leader in e-commerce, eBay has retooled its shopping experience for online shoppers along with PayPal its popular payment service that is now used by millions worldwide.
John Donahoe, the CEO of eBay said he projects annual sales for eBay’s marketplace to exceed $20 billion.
eBay stock jumped 68% in 2012, as Wall Street investors became impressed with how the company was making strides to stay abreast of the evolving mobile device market. Earnings for the company were $757 million for the recently ended fourth quarter.