eBay reported a jump in sales over the festive season

eBay has reported a jump in sales over the festive season, as coronavirus lockdowns spurred more shoppers to buy presents online.

The online marketplace saw revenues rise to $2.9bn (£2.1bn) for the three months ending 31 December 2020, beating analysts’ expectations.

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The number of annual active buyers grew by 7% to 185 million, reports BBC.

eBay’s chief executive Jamie Iannone said the firm “will be stronger coming out of the pandemic than going in”.

The firm saw its gross merchandise volume – a measure of the total value of goods and services transacted on the platform – jump 21% to $26.6bn, compared to the same period in 2019.

Shares jumped 9% to $63.46 in late trading on the news.

The online marketplace said that a top trend for holiday shoppers in 2020 was purchasing refurbished gifts on the platform, while sales of luxury watches and trainers climbed after eBay launched an authenticity guarantee for these two product categories.

Mr Iannone told shareholders that “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”.

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