EBay Profit Climbs 52% on Higher Fees
Published April 19th, 2007
EBay Inc., the world’s largest online auction company, said first-quarter profit climbed 52 percent as it raised fees and held more auctions overseas. The company boosted its earnings and sales forecast for the year.
Net income surged to $377.2 million, or 27 cents a share, San Jose, California-based EBay said today in a statement. Excluding some expenses, it earned 33 cents, 3 cents more than analysts’ estimates. Revenue rose 27 percent to $1.77 billion.
Chief Executive Officer Meg Whitman last year more than doubled fees for merchants selling goods at fixed prices to reduce clutter on its site. A higher percentage of listings are leading to sales as a result. Revenue from its PayPal payment division surged 31 percent while sales at its Skype Internet phone unit more than doubled.
