Really, we can’t be all that shocked here. There is a common belief that you can make a good living on eBay if you know what you are doing and with that, we are seeing an increase of sellers. On the flip side though, there has also been quite a surge of buyers too. Good news for those sellers!

EBay Inc. on Wednesday reported a 28 percent jump in profits in the first quarter, as the number of buyers, sellers and bidders on the Internet marketplace surged by a third.

The San Jose, Calif.-based, online auctioneer said net income in the quarter ended March 31 was $256.3 million, or 19 cents a share, compared with $200.1 million, or 15 cents a share, during the same period a year ago. Revenues rose by 36 percent to $1.03 billion from $756.2 million a year ago.

“A record jump in registered users, record (gross merchandise volume), tremendous PayPal growth, and record net revenues all highlighted a wonderful quarter for EBay,” Meg Whitman, president and chief executive of the company, said in a statement. [Read the rest]