eBay predicted its mobile business will double mobile gross merchandise volume (GMV), or the value of products being sold, from $2 billion in 2010 to $4 billion in 2011 while announcing its financial results for Q1 2011.

 

"eBay Mobile is continuing to see very strong growth," says John Donahoe, president and CEO of eBay. "Once again, while other retailers are formulating their mobile plans, consumers are actively buying and selling through the eBay Mobile app. We see strong accelerating momentum across multiple devices in almost every geographic market around the world. We're on track to double eBay's mobile GMV this year to $4 billion in 2011."

 

eBay also sees strong opportunities from the performance of PayPal's mobile business. Donahoe said eBay expects PayPal to triple mobile total payment volumes (TPV), or the total value of transactions, from $750 million last year to more than $2 billion in 2011.

 

"Mobile payments also has strong traction and momentum for PayPal," says Donahoe. "Merchants everywhere are recognizing the growing importance of mobile commerce, and they're turning to PayPal Mobile Express Checkout to give their consumers the ability to buy merchandise using their mobile phones."