eBay profits on the increase

Online auction company eBay posted a profit of $ 104.2 million, or 32 cents a share, in the first quarter, which is double that it achieved for Q1 last year when it earned $ 47.6 million, or 17 cents a share.

Online auction company eBay posted a profit of $104.2 million (€95m) or 32 cents a share, in the first quarter, which is double that it achieved for Q1 last year when it earned $ 47.6 million (€43m) or 17 cents a share.

The company’s revenue went up by a similar amount, to $ 476.5 million (€435m) from $ 245.1 million (€224m).

The increase in revenue was helped by the growth of its international operations, which includes sites targeted at the UK, Germany and South Korea.

The total value of goods traded on eBay in the quarter was $ 5.32 billion (€4.86bn).

The company’s CEO Meg Whitman said that the sectors which had been especially successful were cars, computers and technology.