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Auction site eBay's profits double

Auction website eBay last night reported that record sales had doubled its first-quarter profits compared with a year earlier to $200m.

The auction site revised its 2004 sales outlook upward by $150m, saying it could reach $3.15 billion.

The company reported earnings of 31 cents per share in the first quarter of 2004, and projects 26 cents for the second quarter, 25 cents in the third quarter and 31 cents for the fourth quarter.