EBay profit nearly doubles

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Online marketplace eBay Inc. on Wednesday posted a first-quarter profit that nearly doubled from a year earlier on strong transaction activity as well continued growth in its PayPal unit.

The San Jose, California-based company had net profit of $200.1 million, or 30 cents per diluted share, compared with a year-earlier net profit of $104.2 million, or 16 cents per diluted share. Net revenue grew to $756.2 million from $476.5 million.

Read more: [URL=http://www.msnbc.msn.com/id/4799062/]MSNBC[/URL].

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