eBay Inc. (NASDAQ:EBAY) was one of the best performing stocks on Monday, climbing 2.97% to close at $87.74 per share. Investors are betting on strong growth in the retail sector due to an expected increase in consumer spending during the holiday season.

eBay Inc. (NASDAQ:EBAY) rallied alongside other internet retail companies like Etsy Inc., Global-E Online Ltd., and Chewy Inc., as investors anticipate a surge in consumer spending during the holidays. eBay expects its fourth-quarter revenues to grow by 8 to 10 percent year-on-year, with full-year revenues projected to increase by 6 percent.

In the last quarter, eBay Inc. (NASDAQ:EBAY) reported mixed earnings results, with net income remaining flat at $632 million. Total revenues increased by 9% to $2.82 billion, with advertising revenues generating $525 million. The company expects strong growth in revenue for the full year.

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Read more at Yahoo Finance: eBay (EBAY) Climbs 3% on Holiday Boost