Ebay profits surge during weak dollar

Ebay, the online auction retailer, has seen its profits surge 22% with the value of international sales due to the weak dollar.  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.

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, according to the BBC. 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.

"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.