eBay celebrates 18 per cent sales rise

Online marketplace cites an increased of number of users accessing the site via smartphones as boosting sales
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eBay's sales have risen by 18 per cent as the online marketplace reports strong trading across the Christmas period.

Through the last three month's of 2012, eBay topped analysts' forecasts as it saw its sales jump by 18 per cent to total £2.5bn.

Following the announcement, Ebay shares rose just over one per cent to $53.53.

A statement released by eBay reveals its PayPal payment division to have shown the greatest growth, with the service's fourth-quarter revenue totalling $1.54bn, an increase of 24 per cent on the previous year.

Meanwhile, eBays primary marketplace division saw its end of year revenue rise to $2.05, growing 16 per cent from the same period in 2011.

eBay has cited the growing number of users accessing the site via smartphone as a key factor behind the site's improved sales.

"Mobile continues to rewrite the commerce playbook," eBay chief executive John Donahoe said.

eBay primarily generates revenue by charging a fee for each item sold through its marketplace, as well as a fee for payments processed by PayPal.

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