Ebay Inc. reported on Wednesday that its second-quarter net revenue rose 1% to $2.57 billion. The American multinational e-commerce giant reported that growth exceeded expectations across "key financial metrics."
The company's net income also rose, increasing 31% to $226 million while earnings per diluted share grew by 39% to $0.45. The company said it achieved positive year-over-year GMV growth thanks to the effective "execution of strategic initiatives."
"EBay's strong Q2 results mark another step toward achieving sustainable, long-term growth," Jamie Iannone, Chief Executive Officer at eBay said. "The continued momentum in Focus Categories contributed to our increase in GMV, while new AI capabilities are driving innovation across the platform and transforming the experience for eBay customers around the world."
The company's stock saw a 0.74% decrease in the after-hours trade.
