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Archive for the ‘eBay’

EBay pays £1.2m in UK tax on sales of £800 million

October 29, 2012 By: Dr Search Principal Consultant at the Search Clinic Category: Amazon, eBay, Ecommerce, Facebook, internet, Online Marketing, Search Clinic, Technology Companies, Uncategorized

eBay has paid just £1.2 million in tax in the UK an investigation has found.EBay pays £1.2m in UK tax on sales of £800 millionThe Sunday Times newspaper said that its tax bill in 2010 comes despite eBay’s UK subsidiaries generating sales of £800 million.

The auction site – which also owns the PayPal payments system – responded that it “complies fully with all applicable tax laws”.

The report comes after coffee giant Starbucks was also accused of paying just £8.6 million in corporation tax in the UK over 14 years.

According to the Sunday Times, eBay had sales of £789 million during 2010 in the UK at its four British subsidiaries.

Using its worldwide profit margin of 23%, it would have made a profit in the UK of £181 million, leading to corporation tax owed of £51 million. Instead, it paid just £1.2m, the report said.

Accounts for one of its units, eBay (UK) Ltd, show that for 2010 – the last year available – it owed tax of £766,000 on profits of £4.4 million.

Other large online international companies have also been accused of avoiding tax in the UK.

Facebook UK paid £238,000 in tax last year, according to its accounts. Its sales were £20.4 million.

Most of the company’s income is believed to be legally going through its European base in Dublin, where corporation tax is lower than in the UK.

And a report in the Guardian in April said that online retailer Amazon had generated sales of more than £7.6 billion in the UK over the past three years but had not paid any corporation tax on the profits from those sales.

eBay thirdquarter sales and profits increase

October 22, 2012 By: Dr Search Principal Consultant at the Search Clinic Category: Apps, Customer Service, eBay, Ecommerce, internet, Mobile Marketing, mobile phones, Pay Per Click, Pay Per Click Advertising, smart phones, Tablets, Technology Companies, Uncategorized

The auction site eBay has reported a rise in third quarter sales and profits- as more consumers used the website.eBay thirdquarter sales and profits increaseNet profit for the three months to the end of September rose 14% from a year earlier, to £445 million ($718 million), eBay said.  Net revenues rose 15% to £2.125 billion.

The company has also been looking to take advantage of the increasing number of people who use mobile smartphones to shop and pay for things.

“We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth,” chief executive John Donahoe said in a statement.

“Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments.”

The group forecast sales of between £2.46 billion and £2.5 billion in the fourth quarter.

Whilst the results were impressive, EBay shares fell nearly 1% in extended trading in New York after its results came out as analyists had been hoping for even better results.

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Yahoo names Paypal’s Scott Thompson as new CEO

January 12, 2012 By: Dr Search Principal Consultant at the Search Clinic Category: Customer Service, eBay, Ecommerce, Email, search engines, Technology Companies, Uncategorized, Yahoo

Yahoo has named Scott Thompson- the president of online payments firm Paypal, as its new CEO.Yahoo names Paypal's Scott Thompson as new CEOHe will fill the vacancy left by Carol Bartz, who was dismissed as chief executive in September after failing to turn around the company’s fortunes.

Mr Thompson has headed Paypal, the payments division of eBay, since 2008, during which time its userbase doubled.

Yahoo is currently undergoing a strategic review as it has failed to keep up with rivals such as Google.

First and foremost Mr Thompson has to define what Yahoo should be. Technology firm? Media company? Online services provider? Search engine? Internet portal? All of the above?

Yahoo has spread itself too thin, both managerially and technologically. It tried to compete with Microsoft, Google, AOL and everybody else at the same time – and failed. Yahoo is not known for innovation anymore. Meanwhile, Facebook snuck up from behind and ate Yahoo’s most valuable asset – the time its users spend online.

Selling troubled Yahoo to some naive investor might be an option, but anti-trust challenges make the outcome of any bid doubtful – unless Yahoo’s Chinese partner Alibaba steps forward. But that in itself would be a political Pandora’s box.

The US firm’s key products, beside its search engine, include photo sharing site Flickr and its webmail platform.

However, its domination of webmail – and the ancillary services it offers its email account holders – is under threat as younger users migrate to social media sites such as Facebook and Twitter.

Markets gave the news a cool reception. Shares in Yahoo were down 3.1% at the close of trading in New York.

Shares in Paypal’s parent, eBay, closed down 3.77%. The broader Nasdaq tech index closed up 0.33%.

Yahoo’s share price has stagnated at about $15 ever since late 2008, refusing to go above $20, after it rejected an offer from Microsoft to buy up the company at $33 a share.

Revenues at the firm have stagnated, particularly compared with leading search engine Google, and Yahoo has had to lay off workers four times over the past three years.

The poor performance prompted Yahoo’s board to ignominiously turf out Carol Bartz in September last year.

Tim Morse, who had been standing in as chief executive, will return to the role of chief financial officer when Mr Thompson takes over on 9 January.

Black Friday and Cyber Monday US internet sales surge

December 02, 2011 By: Dr Search Principal Consultant at the Search Clinic Category: Amazon, Apple, Customer Service, eBay, Ecommerce, internet, Mobile Marketing, mobile phones, Online Marketing, smart phones, Technology Companies, Uncategorized

Online sales rose faster than expected in the US on Black Friday, according to surveys- with more expected next week.Black Friday and Cyber Monday US internet sales surgeInternet sales totalled £524 million ($816 million), a 26% gain on last year, said Comscore. IBM Coremetrics put the rise at 24%.

Black Friday, the day after Thanksgiving, is treated by many retailers as the start of the Christmas shopping season. They offer one-off discounts to mark the occasion.

Analysts said heavy promotional activity helped drive demand.

By comparison, a report by Shoppertrak suggested that in-store Black Friday sales were up by 7% on last year, at £7.12 billion ($11.4 billion).

Around 50 million Americans visited online retail sites on Friday, according to Comscore.

It said Amazon was the most popular destination, with 50% more visitors than any other retailer.

Walmart, Best Buy, Target and Apple were next in line, said the analytics company.

“Despite some analysts’ predictions that the flurry of brick-and-mortar retailers opening their doors early for Black Friday would pull dollars from online retail, we still saw a banner day for e-commerce,” said Comscore’s chairman, Gian Fulgoni.

IBM Coremetrics also noted a trend towards shopping on smartphones and tablet computers.

It said Black Friday purchases made on mobile devices had accounted for 9.8% of all online sales, compared with 3.2% last year.

IBM described mobile shoppers as having had a “laser focus” since they had been more likely to view a single page on a retailer’s site rather than browse what else was for sale.

IBM said Apple’s iPhone and iPad had generated the most mobile internet visits to online stores, accounting for more than double the traffic originating from devices running Google’s Android system.

The company also noted a jump in Black Friday related chatter on social networks. It recorded a 110% rise in discussion volumes after consumers had shared tips on how to secure products before they sold out and the best places to park.

Friday’s internet sales are expected to be eclipsed today on what is referred to as Cyber Monday – which many experts believe will be the US’s busiest online shopping day of the year.

Close to 123 million Americans plan to make an online purchase according to a survey commissioned by the US National Retail Federation, an industry lobby group. That would be a 15% increase on last year.

NRF said nearly eight in ten online retailers would run special promotions including “flash sales that last an hour” and “free shipping offers”.

The federation also highlighted the shift to mobile devices, saying it expected 17.8 million Americans to use them to shop today, nearly five times the number in 2009.

“Retailers have invested heavily in mobile apps and related content as the appetite for Cyber Monday shopping through smartphones and tablets continues to rise,” said Vicki Cantrell, executive director of the NRF’s website shop.org.

UK internet retailers said it was less clear which day will be the UK’s busiest online shopping day this year.

“Over the last couple of years we have seen a fortnight of peak activity over the period corresponding to both this and next week,” said Andy Mulcahy, a spokesman for the industry body Interactive Media in Retail Group (IMRG).

“We expect £3.72bn will be spent online over the two week period.”

Mr Mulcahy said that although some retailers are trying to generate interest in the idea of a cyber event in the UK, but they are split over which day to mark.

Visa Europe said it believed today will be the UK’s busiest internet shopping day, with £303m spent online.

eBay has forecast that it would experience its peak in activity this Sunday with more than 5.5 million people expected to log onto the UK version of its auction website.

Amazon said it expected to experience more demand the following day.

“In recent years, the first Monday in December has been Amazon.co.uk’s busiest day with orders for over 2.3 million items being placed on Monday 6th December last year,” said Christopher North, the website’s managing director.

YouTube traffic boosted by music videos

November 04, 2011 By: Dr Search Principal Consultant at the Search Clinic Category: Customer Service, eBay, Facebook, Google, Microsoft, search engines, Social Media, Technology Companies, Twitter, Uncategorized, Video Marketing, Yahoo, YouTube

Visits to video sharing websites by UK users have gone up by more than a third in the last year.YouTube traffic boosted by music videosThe biggest driver of traffic to those sites is music videos (33%), followed by TV shows (17%), film (11%), gaming (10%) and news (9%).

The figures, from internet research company Experian Hitwise, show YouTube accounts for nearly 70% of all video website hits.

It’s now the third most popular site in the UK after Google and Facebook.

Lady Gaga was the most in demand for artist within music searches.

The research was gathered between September 2010 and September 2011.

During that time 240 million hours every month were spent by British internet users watching videos online.

UK’s top 10 websites:

Google UK
Facebook
YouTube
eBay UK
Windows Live Mail
MSN UK
Google.com
BBC News
BBC Homepage
Yahoo! UK & Ireland

Research by Experian Hitwise

Illustrating its dominance in this area, Google owned YouTube, clocked up 184 million of those hours.

That number is still dwarfed by the amount of time spent on social networking sites though.

The same research shows 800 million hours were spent each month on sites like Facebook and Twitter by the UK’s internet users.

Despite YouTube’s dominance of video sharing websites there was also strong growth for other ones too.

BBC iPlayer, the second most popular video site, experienced a 22% rise in traffic last year.

That means the number of visits to the site has doubled in the last three years.

eBay results beat expectations as PayPal expands

July 22, 2011 By: Dr Search Principal Consultant at the Search Clinic Category: Customer Service, eBay, Ecommerce, internet, Online Marketing, Technology Companies, Uncategorized

Online auction company eBay has reported better than expected profits thanks mainly to growth at its PayPal division.
eBay results beat expectations as PayPal expandsSecond quarter net income was £176 million, down from £257 million for the same period a year ago.

But the fall in earnings was largely due to eBay’s takeover of GSI Commerce, a digital marketing and ecommerce firm, earlier this year.

Ebay’s main online Marketplace business showed signs of a turnaround and its PayPal division grew well.

PayPal gained members and the value of merchandise sold through its eBay.com website rose.

Taking out one-off cost – including those of acquiring GSI – income was 19% higher than last year’s £331 million.

However after eBay increased their charges in May there was a considerable backlash from UK etailers- some of whom claim that eBay’s new charges make them unprofitable.

These higher charges are making them switch from eBay to Amazon- who has kept their UK charges flat.

The EBAY share price still trades at a discount to it’s record price set on 1st October 2007 of $39.90.