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eBay shares rise as sales increase by 18%

  • EBay's sales for the last three months of 2012 increased by 18 percent to $3.99 billion on the back of the rise in the use of smartphones to trade on the site.

    EBay shares rose 1.2 percent to $53.53 in after-hours trading following the announcement on Wednesday.

    Profits dropped by 62 percent to $757 million. However, the comparable 2011 figure was inflated due to proceeds from eBay's sale of Skype.

    According to eBay, the PayPal payment division reported the most growth.

    Fourth-quarter revenue from the payment service sat at $1.54 billion, a 24 percent increase from the previous year.

    The marketplaces division saw fourth-quarter revenue of $2.05 billion, up 16 percent from the same period last year.