EBay beats revenue estimate, bumps up forecasts

Online retailer eBay Inc reported better-than-expected quarterly revenue and raised its sales forecast for the year as efforts to revamp its online marketplace start to pay off. EBay shares were up 8 percent after the bell on Wednesday after the company's board also authorized an additional $2.5 billion stock buyback program. The company's revenue also got a boost from robust sales at Stubhub, which won a 6.5 year revenue-sharing deal to resell tickets for the New York Yankees last month.

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