How did eBay perform in the last quarter?

[Mark Michaels]

[Bryan Reynolds]

The e-commerce giant eBay (NASDAQ: EBAY) reported better-than-expected second-quarter revenue and profit, as making its platforms easier to use and its advertising efforts have paid off.

Shares of eBay rallied almost 7% to $41.60 in the extended session.

The online retailer has been working hard on promoted listings and payment business lately, as well as making its platforms more customer-friendly and easier to use by implementing new features such as grouped listings and personal recommendations.

Over 940,000 sellers have been using the promoted listings, which caused advertising revenue to hit $89m for the quarter.

“The results show eBay’s new revenue sources are working to fuel growth in the bottom-line profitability. The company’s renewed focus on advertising and its new payments business are boosting sales, and that’s enough for investors to get excited,” said Haris Anwar, a senior analyst at Investing.com.

eBay reported earnings per share of 68 cents, higher than consensus estimates of 62 cents. Revenue climbed almost 2% to $2.69bn, beating the expectations of $2.68bn.