EBay beats sales estimates for holiday quarter

(Reuters) - Ebay Inc beat Wall Street estimates for quarterly sales on Tuesday, as customers spent more in the holiday shopping season and a multi-year effort to make its platform more user friendly yielded results.

The company reported sales of $2.88 billion in the three months ended Dec. 31, up 6.3 percent from a year earlier and slightly higher than analysts' average expectation of $2.86 billion, according to IBES data from Refinitiv.

Net income from continuing operations was $763 million or 80 cents per share, compared with a loss of $2.6 billion or $2.51 per share, a year earlier, when it recorded a one-time tax-related expense of more than $3 billion.

 

(Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr)