San Francisco - Profits at eBay, the largest online auctioneer, grew 22 per cent compared to a year ago, thanks to changes in auction fees and improved performance for the company's Paypal and Sype subsidiaries.

The Silicon Valley company said that it recorded net income of 459.7 million dollars, or 34 cents a share, as revenue rose 24 percent to 2.12 billion dollars.

"We are pleased with our first quarter results," Bob Swan, eBay's Chief Financial Officer, said in a statement. "We are seeing some positive early indicators based on our key initiatives, but there is still much work to be done."

In February eBay adjusted the fees it charges on its online marketplaces in an attempt to spur more listings. The San Jose company said listings were up 10 percent compared to the prior year.

EBay also boosted sales guidance for 2008 to a range of 8.7 billion dollars to 9 billion dollars. Previously, eBay had said its sales would range from 8.5 billion dollars to 8.75 billion dollars. (dpa)