Sales jump boosts eBay share price

<p>Christmas sales have helped boost eBay’s share price.</p>

The Christmas period proved to be a successful one for eBay, as the internet marketplace's share price jumped before the end of trading yesterday (January 16th) on the New York Stock Exchange.

In the last three months of the year, the company saw strong demand, with sales rising by 18 per cent to $3.9 billion (£2.5 billion) compared to the previous quarter.

On Cyber Monday (November 26th), which is historically seen as the beginning of the festive shopping season, transactions on eBay's mobile applications doubled year-on-year, while PayPal payments nearly tripled.

The firm claims the growing popularity for making purchases via smartphones helped boost activity, while PayPal payments generated the greatest growth totaling $1.5 billion in revenue.

At close of play on the technology-heavy Nasdaq last night, eBay shares rose by 0.7 per cent to $52.90 per unit, while the index itself rose by 0.2 per cent – or 6.7 points – finishing on 3117.5 points.

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