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This excerpt taken from the EBAY 8-K filed Oct 18, 2006. eBAY INC.
ANNOUNCES THIRD QUARTER 2006 FINANCIAL RESULTS
— Company Reports Record Q3 Net Revenues
of $1.449 Billion —
— Delivers Q3 GAAP Diluted EPS of
$0.20 and Non-GAAP Diluted EPS of $0.26
—
— Company Repurchases $667 Million
of Common Stock —
San Jose, CA, October 18, 2006 — eBay Inc.
(Nasdaq: EBAY; www.ebay.com) reported financial results for its
third quarter ended September 30, 2006.
eBay reported record consolidated
Q3-06 net
revenues of $1.449 billion, representing a growth rate of
31% year over year. GAAP operating income was $339 million,
a decrease of 5% year over year, and represented 23% of net
revenues. Excluding stock-based compensation of
$74 million, operating income would have increased 16% year
over year to $413 million, or 28% of net revenues. Non-GAAP
operating income in
Q3-06 was
$464 million, representing a 32% operating margin and an
18%
year-over-year
increase.
GAAP net income in
Q3-06 was
$281 million, or $0.20 earnings per diluted share, an
increase of 10% year over year. Excluding stock-based
compensation of $51 million (net of tax effects), net
income increased 30% year over year to $332 million, or
$0.23 earnings per diluted share. Non-GAAP net income in
Q3-06 was
$367 million, or $0.26 earnings per diluted share, a 31%
year-over-year
increase.
The company repurchased approximately 24 million shares of
its common stock at a total cost of $667 million during the
quarter, completing one-third of its previously announced stock
repurchase program.
“Q3 was a very good quarter for the company and a
continuation of the strong earnings growth we delivered
throughout the first half of the year,” said Meg Whitman,
President and CEO of eBay Inc. “As our results demonstrate,
we are executing on our strategy to grow our Marketplaces,
PayPal and Skype businesses individually and collectively to
deliver greater value to our community of users and to our
shareholders.”
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