eBay CEO Jamie Iannone. Photo by Harry Murphy/Web Summit via Sportsfile, under Creative Commons license

E-commerce company eBay has announced its financial results for the second quarter of this year, indicating $2.9 billion in revenue on Gross Merchandise Volume of $27.1 billion. Net income for the quarter amounted to $740 million. Out of the $2.9 billion, $2.7 billion came from marketplace sales while the remaining $201 million originated from classifieds sales. During the quarter, eBay repaid $500 million worth of previously issued debt and returned $112 million in dividends to shareholders.

Recently, eBay announced it reached a deal to sell its classifieds business for a total of $9.2 billion. The business is being sold to Norwegian online marketplace giant Adevinta. eBay will receive $2.5 billion of cash and the rest of the total amount in Adevinta shares in order to complete the sale.