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eBay on Wednesday announced plans to revise its struggling marketplace unit, giving it greater focus on its core used goods auction business, rather than its retail business, the company said during its analyst day presentation.

The news apparently pleased Wall Street, which bid up eBay shares 4.7 percent Wednesday, as the company held its analyst day. spelling mansion eBay shares continued to rise Thursday, climbing 2.24 percent to $11.89 a share in morning trading.

With its announcement, eBay addresses one of Wall Street's long-held complaints that the e-commerce giant suffers from an identity crisis. Analysts have previously said that the company has struggled with a desire to stay true to its roots in offering used goods and collectibles through an auction process, yet has also wanted to compete in the fixed-price retail arena with the likes of Amazon.com and other online retailers.