eBay shares rise on strong Q4 trading

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eBay has reported strong results during the final quarter of 2020 thanks to a boom in online shopping.

For the three months ending 31 December 2020, the group beat analyst expectations and posted a jump to revenues to $2.9bn (£2.1bn).

The number of active buyers on eBay jumped by 7% to 185 million and gross merchandise volume increased by 21% to $26.6bn.

Following the trading update, shares surged 9% to $63.46.

Chief executive Jamie Iannone said: “We finished the year with strong financial results, but what inspires me most is the support we’ve been able to extend to small businesses — providing them with tools, resources and access to millions of buyers globally. We will continue to invest in product and technology in order to deliver the best marketplace in the world for our
customers.”