The good news keeps rolling in for

eBay

(EBAY) - Get Report

.

More higher-price goods are being exchanged on the online auctioneer's site, a Wall Street analyst said Wednesday in boosting earnings estimates for the second quarter. Another plus, he said, has been faster-than-expected growth overseas.

"Our quarter-to-date statistical analysis suggests that eBay's second-quarter results will once again beat expectations," wrote Mark Rowen of

Prudential Securities

. Rowen kept his buy rating and $75 price target for the stock, but upped his earnings estimate to 10 cents a share from 8 cents. He also increased his revenue estimate to $170 million from $165 million. (Rowen's firm has had a banking relationship with eBay.)

According to consensus estimates compiled by

Thomson Financial/First Call

, Wall Street analysts expect the company to earn 9 cents a share on revenue of $162.4 million.

Shares were lately up $1.93 at $61.68.

The company, which says it will report earnings July 19, is seeing higher average selling prices on goods exchanged on its site, mainly from an increase in the number of computers and electronics goods sold. In addition, its international markets, particularly in Germany and the U.K., are performing well this quarter, according to Rowen's analysis.

Throughout the dot-com shakeout, San Jose-based eBay has continued to attract the faith of analysts and investors for two main reasons: It makes money, and as a virtual marketplace it has no analog in the bricks-and-mortar world. It also has consistently met or

exceeded earnings estimates.

The only cause for caution, say most analysts, is the company's valuation, currently a pricey 90 times 2002 earnings.