By  on July 16, 2014

EBay Inc. managed to beat Wall Street’s expectations by 1 cent for the second quarter in spite of a global password reset that hampered the commerce platform’s growth.

For the period ended June 30, the San Jose, Calif.-based company said net income rose 5.6 percent to $676 million, or 53 cents a diluted share, from $640 million, or 49 cents, a year ago. Excluding certain costs, earnings were 69 cents a share. Net revenue rose 12.6 percent to $4.37 billion from $3.88 billion. Analysts on average were expecting revenues of $4.39 billion and earnings per share at 68 cents.

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