NEW YORK (
stock is on the move after it reported second-quarter earnings that beat estimates.
But eBay lowered its full-year outlook, now expecting earnings in the range of $1.60 to $1.65 a share, lower that its prior outlook of $1.63 to $1.68 a share.
During the quarter, the Internet retailer earned $412 million, or 40 cents a share, two cents higher than analysts' estimates. Sales rose 6% to $2.22 billion, also surpassing expectations of $2.17 billion.
PayPal continues to be the biggest driver of growth, with revenue at the unti surging 22% to $817 million. eBay's marketplace saw sales grow 11% to $1.4 billion.
The stock slipped immediately after the report was released, but is currently rising 3.1% to $20.85 in after-hours trading.
-- Reported by Jeanine Poggi in New York.
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