eBay's Marketplace Volume Jumps to $100 Billion
Investors had high expectations heading into eBay's (NASDAQ: EBAY) holiday-quarter earnings announcement, but the online marketplace still managed to surprise Wall Street last week.
On Feb. 3, eBay revealed robust sales growth, rising profitability, and strong cash flow as it closed out a record 2020. CEO Jamie Iannone and his team also issued a bullish outlook for the start of 2021.
eBay continued to benefit from the new focus that the pandemic has placed on e-commerce. Sales volume rose 28% year over year, coming in higher than what management had forecast in late October. That boost pushed gross merchandise value past the $100 billion mark for the year, up 17% from 2019.
Source Fool.com
