Stock Alert: EBay Up 6% As It Raises Outlook

(RTTNews) - Shares of eCommerce company eBay Inc. (EBAY) are climbing more than 6% Thursday morning after the company raised its second-quarter outlook as its business is performing significantly better than expectations. The stock touched a new high of $51.88 today morning, currently trading lower at $49.55.

Today, eBay said it estimates second-quarter revenue to be in the range of $2.75 billion- $2.80 billion, up from the previous guidanc3e of $2.38 billion- $2.48 billion.

The company has increased its earnings outlook to the range of $1.02- $1.06 from $0.73- $0.80 previously guided.

On average, 27 analysts polled by Thomson Reuters expect earnings of $0.78 on revenue of $2.46 billion for the quarter.