eBay shares up 7% after beating earnings expectations

eBay reported second quarter results after the bell on Wednesday. The company beat expectations, posting earnings 43 cents per share, when analysts were forecasting 42 cents.

The company also brought in $2.23 billion in revenue, compared to the $2.17 billion expected.

“We are now one year into executing our strategy to provide the best choice, the most relevance and the most powerful selling platform, and there are signs of momentum in our business,” said CEO Devin Wenig, in a statement. The company split from PayPal a year ago.

One thing that eBay has been focused on lately is what they call their “structured data initiative.”  They have been focused on “efforts to improve the search experience and better categorize products,” said James Cakmak, analyst at Monness Crespi Hardt. He said that investors have been curious to see if this strategy will finally improving sales.

eBay has been shifting their focus to its fixed price business, since their auctions business is in decline. This means the company has been competing more directly with Amazon, attracting more brands to sell products on their marketplace site.

Another area of focus is StubHub, the concert and sports ticket business, which has seen growth. The recent acquisition of Ticketbis is expected to help them expand into international regions.

Last quarter, the company beat earnings expectations.Shares are up 9% in the past three months.

Shares closed Wednesday at $26.99. The company has a market cap of $31 billion.