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EBAY » Topics » eBay Inc. Unaudited Guidance Summary

This excerpt taken from the EBAY 8-K filed Oct 18, 2006.
eBay Inc.
Unaudited Guidance Summary
(In Millions, Except Per Share Amounts And Percentages)
 
The guidance figures provided below and elsewhere in this press release are approximate in nature because eBay’s future performance is difficult to predict. Such guidance is based on information available on the date hereof, and eBay assumes no obligation to update it.
 
eBay’s future performance involves risks and uncertainties, and the company’s actual results could differ materially from such guidance. Some of the factors that could affect the company’s operating results are set forth under the caption “Forward-Looking Statements” above in this press release. More information about factors that could affect eBay’s operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by visiting the company’s investor relations website at investor.ebay.com or the SEC’s website at www.sec.gov.
 
                 
    Three months ending December 31, 2006
    GAAP(a)   Non-GAAP(b)
     
 
Net revenues
    $1,615 -$1,675     $1,615 -$1,675
Diluted EPS
    $0.21 -$0.22     $0.27 -$0.28
 
                 
    Year ending December 31, 2006
    GAAP(a)   Non-GAAP(b)
     
 
Net revenues
    $5,865 -$5,925     $5,865 -$5,925
Operating margin
    23%      32.5% 
Diluted EPS*
    $0.75 -$0.76     $1.01 -$1.02
Effective tax rate
    26% -27%     28% -29%
 
 
*  Please note that the sum of the quarters may not total to the full year EPS because the quarterly EPS is calculated using the respective results and weighted average shares for each quarter, and the full year EPS is calculated using the results and weighted average shares for the full year.
 
(a) GAAP guidance includes the estimated impact of expensing stock options under FAS 123(R) “Share-Based Payment.” The stock based compensation calculated under FAS 123(R) is expected to reduce diluted GAAP EPS by approximately $0.15-$0.16 for the full year ending December 31, 2006 and $0.03-$0.04 for the fourth quarter ending December 31, 2006.
 
(b) Non-GAAP guidance reflects estimated quarterly adjustments to exclude the amortization of acquired intangible assets of approximately $45-$55 million, stock-based compensation (including the estimated stock based compensation calculated under FAS 123(R)) and payroll taxes on employee stock options of approximately $70-$85 million. These non-GAAP items are estimated to result in a $0.06 per diluted share adjustment, net of tax, and an operating margin adjustment of approximately 10% for the fourth quarter ending December 31, 2006.


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