eBay share price rises as online auction site posts four per cent jump in revenue during first quarter of 2016

Caitlin Morrison
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Ebay Live in Berlin
The online retailer's boss said the company was making progress on its priorities (Source: Getty)

Shares in online retailer eBay rose by over 1.7 per cent in after hours trading as the company revealed a jump in revenue during the first three months of the year.

Sales went up by four per cent, from $2.06bn (£1.41bn) in the first quarter of 2015, to $2.14bn, and gross profit went from $1.65bn to $1.66bn.

Earnings per diluted share dropped one per cent to $0.47 from $0.48.

"We are executing our plan and making progress on our strategic priorities to ensure our buyers have the best choice of products and a simple, personalised shopping experience, while sellers benefit from our powerful selling platform," said Devin Wenig, eBay's president and chief executive.

He added that the first quarter results represented "another quarter of solid results, as we continue to position eBay for long-term success".

The company said it added more inventory on its platforms during the first quarter, with over 900m live listings "available at any time".

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