Online marketplace site eBay Inc. (EBAY - Get Report)  after the bell on Wednesday posted better-than-expected second-quarter earnings. 

The company reported adjusted net income of $589 million, or 68 cents a share, on revenue of $2.7 billion. 

Analysts surveyed by FactSet were expecting the company to report net of $550.9 million, or 62 cents, on sales of $2.7 billion.

In the year-earlier period, the company earned $533 million, or 53 cents a share, on revenue of $2.6 billion.

EBay said it repurchased about $1.5 billion of its common stock during the period. 

The online marketplace company's shares rose $2.74, or 7%, to $41.77 in after-hours trading. 

The company forecast revenue between $2.61 billion and $2.66 billion for the third quarter and non-GAAP EPS of 62 cents to 65 cents. Analysts surveyed by FactSet are looking for revenue of $2.7 billion and earnings of 63 cents a share. 

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