EBay beats estimates as more shoppers flock to site, shares rise

EBay Inc (EBAY.O) beat Wall Street estimates for quarterly revenue on Wednesday, as a multi-year effort to make its platforms easier to use attracted more customers.

The e-commerce company reported net revenue of $2.69 billion for the second quarter ended June 30, up from $2.64 billion a year earlier. Analysts expected revenue of $2.68 billion, according to IBES data from Refinitiv.

EBay’s net income from continuing operations fell to $403 million or 46 cents per share from $638 million or 64 cents per share, a year earlier.