Shares of eBay surged 10% after exceeding analyst expectations in Q2 earnings. Revenue was $2.73 billion, beating estimates of $2.64 billion. GMV rose to $19.5 billion, surpassing projections of $18.9 billion. Q3 revenue is forecasted between $2.69 billion and $2.74 billion, with EPS of $1.29 to $1.34. eBay anticipates GMV of $19.2 billion to $19.6 billion.

eBay faces stiff competition from Amazon, Walmart, Etsy, Temu, and Shein. To retain users, eBay focuses on collectible sneakers, luxury goods, and auto parts. The company recently appointed Peggy Alford as CFO and implemented AI tools to enhance the shopping experience. eBay shares were up 25% this year, outperforming the Nasdaq’s 9% gain.

Read more at CNBC: EBay stock surges on earnings beat, rosy guidance