eBay posts 69% profit surge

Online auctioneer eBay cashed in on its rapid growth today as it posted a 69% surge in profits.

The site, one of the few major dotcom success stories since the high-profile slump in technology stocks, saw profits soar to $103.3m (€89m) in the third quarter of 2003 as the number of registered users hit a record 85.5 million.