eBay Spikes Higher On Q2 Earnings Beat

eBay Inc EBAY shares are up after reporting a second-quarter earnings beat.

Adjusted earnings came in at 68 cents per share, beating estimates by 6 cents.& Sales came in at $2.69 billion, beating estimates by $10 million.

The company issued weak second-quarter sales guidance, but raised 2019 adjusted earnings guidance.

"We remained focused on building our active buyer base, delivering outstanding customer experiences, and accelerating our growth initiatives in the second quarter," said Devin Wenig, President and CEO of eBay. "Managed payments continues to exceed expectations, while first party advertising is providing significant benefits to sellers, and new features are making our marketplace easier to use."

Other Highlights

• Active buyers grew 4%
• Marketplace revenue grew 1%
• $1.5 billion worth of shares repurchased

Shares of eBay traded higher nby 4.8% to $40.93 in after-hours trading. The stokc closed at $39.03.

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