By Maria Armental 
 

Online marketplace eBay Inc. is on track for a record closing Thursday on bullish commentary about business performance amid the coronavirus pandemic that led the company to raise financial projections for the current quarter.

Shares, which Thursday hit a record high of $51.88, recently traded 7% higher at $49.75.

On Thursday, eBay said it now expects about $2.75 billion to $2.8 billion in revenue this quarter, and adjusted profit to increase to about $1.02 to $1.06 a share, higher than analysts' expectations, according to FactSet.

The California-based company said it had added about six million buyers in April and May, either first-time buyers or lapsed buyers returning to eBay, and expects second-quarter volume to increase 23% to 26% from the previous year.

Ebay said it expects to top the financial projections for the year that it gave in April, including $2.20 to $2.30 a share in profit from continuing operations and $9.56 billion to $9.76 billion in revenue.

The company added that it has extended seller performance protections, established at the onset of the pandemic, through July 19.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

June 04, 2020 14:03 ET (18:03 GMT)

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