Global online marketplace Ebay reported a 15 per cent lift in first-party advertising revenue during the third quarter, delivering $396 million in revenue.

Releasing the results for the three months to September 30, CEO Jamie Iannone said the company had achieved growth across key metrics and continued investing in strategic initiatives.

“Our focus categories and geo-specific investments are driving momentum in the business, and we are leveraging the power of Al to create magical innovations for our customers,” he added.

During the quarter, Ebay redesigned its global advertising platform to simplify the experience for sellers and provide tools to improve their advertising goals.

Total advertising revenue for the quarter reached $408 million, representing 2.2 per cent of GMV.

The company reported overall revenue of $2.6 billion, reflecting a 3 per cent increase on both an as-reported and foreign exchange (FX)-neutral basis.

Gross Merchandise Volume (GMV) was $18.3 billion, marking a 2 per cent increase as reported and a 1 per cent increase on an FX-neutral basis.

The company generated $755 million in operating cash flow and $646 million in free cash flow, while returning $881 million to shareholders through $750 million in share repurchases and $131 million in cash dividends.

Ebay CFO Steve Priest credits the results to the solid execution of initiatives that drove GMV growth.

“We are continuing to invest for the long-term while generating significant earnings growth and capital returns for shareholders,” he added.