Shares of eBay Inc. rose Tuesday after the online auctioneer said its payment service PayPal posted a 33 percent rise in online payment volume on the day after Thanksgiving compared with last year's Black Friday.
EBay shares added $1.52, or 4.9 percent, to $32.52. In the past year, the stock has moved between $28.60 and $40.73.
The Friday after Thanksgiving is commonly known as "Black Friday," because it is traditionally the day of the year when a jump in consumer spending makes stores profitable.
EBay also said that it was the most-visited e-commerce site on Friday, according to Nielsen//NetRatings, with 5.4 million unique visitors.
The company added that on the Monday after Thanksgiving -- often a big online shopping day -- traffic to merchants through its Shopping.com property rose 28 percent year over year.
From Friday through Monday, Shopping.com's traffic to merchants rose 30 percent year over year, eBay said.
EBay predicted Tuesday that its sites' busiest shopping day will be the second Monday in December. During the past several years, customer traffic and revenue to eBay site Shopping.com has been higher on that day than on the Monday after Thanksgiving, Shopping.com Chief Executive Josh Silverman said in a statement.
Also Tuesday, J.P. Morgan analyst Imran Khan said in a client note that eBay is trying longer-term promotions and promotions aimed at specific features meant to improve the site for users.
"This approach has resulted in less day-to-day volatility in new listings than in the year-ago quarter, when promotions tended to focus on pricing. We think a site with less volatility of listings is more likely to provide a better user experience," wrote Khan, who rates the stock "Overweight."
EBay shares added $1.52, or 4.9 percent, to $32.52. In the past year, the stock has moved between $28.60 and $40.73.
The Friday after Thanksgiving is commonly known as "Black Friday," because it is traditionally the day of the year when a jump in consumer spending makes stores profitable.
EBay also said that it was the most-visited e-commerce site on Friday, according to Nielsen//NetRatings, with 5.4 million unique visitors.
The company added that on the Monday after Thanksgiving -- often a big online shopping day -- traffic to merchants through its Shopping.com property rose 28 percent year over year.
From Friday through Monday, Shopping.com's traffic to merchants rose 30 percent year over year, eBay said.
EBay predicted Tuesday that its sites' busiest shopping day will be the second Monday in December. During the past several years, customer traffic and revenue to eBay site Shopping.com has been higher on that day than on the Monday after Thanksgiving, Shopping.com Chief Executive Josh Silverman said in a statement.
Also Tuesday, J.P. Morgan analyst Imran Khan said in a client note that eBay is trying longer-term promotions and promotions aimed at specific features meant to improve the site for users.
"This approach has resulted in less day-to-day volatility in new listings than in the year-ago quarter, when promotions tended to focus on pricing. We think a site with less volatility of listings is more likely to provide a better user experience," wrote Khan, who rates the stock "Overweight."
