eBay

(EBAY) - Get Report

raised its full-year earnings estimates Thursday, but the outlook wasn't enough to keep investors interested, and the stock headed south in extended trading.

The online marketplace operator, which earlier this month preannounced

better-than-expected results for the second quarter, delivered what it promised -- earnings of $54.3 million, or 19 cents a share, and revenue of $266.3 million.

eBay now says it expects earnings, before items, of 76 cents to 78 cents a share for the full year, 3 cents better than its prior guidance. The company's forecast for full-year revenue remained constant at $1.1 billion.

Ahead of the earnings report, eBay's shares fell $1.17 to $60.45. In after-hours trading, shares dropped another $2.14.

eBay says it expects third quarter revenue of $278 million and $281 million. That's below a $283 million consensus forecast from six analysts surveyed by Thomson Financial/First Call.

That consensus, however, apparently doesn't include at least one lower estimate -- Merrill Lynch's forecast of $276.1 million revenue in the third quarter ending Sept. 30. eBay is estimating earnings of 19 cents a share for the third quarter, in line with analysts' estimates.

The auctioneer announced on July 8 that it was buying online payment service

PayPal

(PYPL) - Get Report

in a transaction expected to close by the end of the year, and that same day, offered its projection for the second quarter.