Results better than expected for eBay. The American giant of online auctions closed the first quarter with net profits up 20%, at $570 million (55 cents a share), while turnover grew by 29%, to 3,28 billion. The performance was mainly driven by online payment services PayPal.
On the basis of these positive numbers, eBay's top management slightly revised their forecasts for the end of the year upwards, indicating the target for turnover between 13,8 and 14,1 billion (against the estimated range of 13,7 -14 previously) and earnings per share between $2,3 and $2,35 (from $2,25-2,3). On Wall Street, eBay shares soared by 4,4%, reaching $37,46.
