« ***New Requirements for business sellers from 1st May *** | Main | A New Direction For IWAC »
April 17, 2008
Weak dollar boosts eBay profits
Profits at online auction site eBay have risen 22% as the weak dollar helped boost the value of the firm's international sales.
EBay's net income rose to $459.7m (£233m) in the first three months of 2008 from $377.1m in the same period a year earlier.
Revenue rose 24% to $2.19bn, benefiting from growth in eBay's international businesses.
The effect of translating overseas currencies into dollars boosted quarterly sales by $110m.
The results beat analysts' expectations
It also gave a rosy outlook for the rest of the year, forecasting annual revenues between $8.7bn and $9bn.
The firm now makes the bulk of its money outside the US.
EBay's figures surpassed analysts' expectations.
"I would say the international markets are important and right now they are benefiting from a weak dollar," said Martin Pyykkonen, internet analyst at Global Crown Capital.
The firm recently introduced pricing changes and customer service standards for eBay sellers that have raised the cost for some sellers to do business on eBay.
These figures are staggering, Just how big will eBay become? The UK is now officially designated as eBays biggest market place.
Regards
Steve H
Posted by Steve Haddock at April 17, 2008 11:55 AM
