EBay posts sales gains for second successive quarter

EBay Inc's sales went up for the second consecutive quarter as the company seemed to recover from an early blip caused by its start as an independent entity free from Paypal.

The online market's performance was better-than-expected as they reported sales of $2.23bn on Wednesday, a 5.7% jump in comparison with last year's corresponding $2.11bn. Its reported net income was $435m, valuing it at 38 cents a share.

Analysts were expecting eBay to report a per-share profit of 42 cents, excluding certain items. On that basis, eBay had a profit of 43 cents a share.

The company, which spun off PayPal last July, has tackled slowing growth by focusing on small business sellers, while offering a bigger selection of products.

Many have commented on the apparent struggles of eBay in recent times due to the rise in competition from the likes of Amazon, who have brought in third-party sellers to combat their traditional rival.

One of eBay's most important partners StubHub continues to provide solid sales for the company, particularly after purchasing Spanish rival Ticketbis. The ticket reselling website posted a 40% sales increase, hitting $225mn.