Ebay profits surge on overseas growth

“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… Overseas revenue climbed 38 percent on demand in Western Europe, outpacing an 18 percent gain in the U.S. and helping lower the company’s tax rate. A weaker dollar boosted earnings by 2 cents a share, Chief Financial Oficer Robert Swan said in an interview… `We’ve continued to try to expand our international footprint,’ said Swan.”