[source: BBC]

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.

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

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.