eBay Posts Higher Profits On The Backs Of Sellers Higher Fees

EBay profit gains 22% on higher fees

EBay Inc., the world’s largest Internet auctioneer, posted first-quarter profit that beat analysts’ estimates on increased selling fees and higher revenue from its PayPal payment service.Net income climbed 22 per cent to $459.7 million, or 34 cents a share, from $377.2 million, or 27 cents, a year earlier, EBay said Wednesday in a statement. Earnings excluding some costs exceeded estimates by three cents. The online retailer said sales and profit for the full year will be higher than it predicted in January.