Quarterly Business Highlights for EBay (EBAY)

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EBAY » Topics » Quarterly Business Highlights

This excerpt taken from the EBAY 8-K filed Oct 15, 2008.

Quarterly Business Highlights


	•	eBay Inc. was honored by the White House and U.S. Department of Commerce with the National Medal of Technology for leadership in technology and innovation that has enabled millions of entrepreneurs to participate in the global ecommerce market.

	•	Marc Andreessen, founder of Netscape, Loudcloud and Ning, joined the eBay Inc. board of directors.

	•	eBay Inc. repurchased approximately 25 million shares of its outstanding common stock at a cost of approximately $623 million. Since the inception of the stock repurchase program in the third quarter of 2006, the company has repurchased approximately $5.3 billion of its common stock.

	•	eBay lowered listing fees for the Buy It Now format by more than 70% and extended listing periods to 30 days, up from seven.

	•	The company’s global classifieds businesses averaged 84 million unique visitors per month during the quarter, representing an increase of 55% year over year.

	•	StubHub entered into a partnership with the NFL’s New York Jets franchise to auction personal seat licenses for the football team’s new stadium.

	•	PayPal launched merchant services deals with Walmart.com, William Hill (U.K.), Continental Airlines, American Eagle Outfitters, BagsOK (China), newegg (Canada) and OfficeMax, among others.

	•	Payment volume from PayPal’s merchant services business exceeded the volume received from the eBay marketplace for the first time.


	•	Skype surpassed 13 million concurrent users at certain peak times.

	•	Skype-to-Skype minutes reached nearly 16 billion, a 63% increase year over year.

Financial Highlights (presented in millions, except per share data and percentages)


	Third Quarter
	2008		2007			Change

Net revenue	$	2,118	$	1,889		$	228	12	%
GAAP
Net income (loss)	$	492	$	(936	)*	$	1,428	—
Earnings (loss) per diluted share	$	0.38	$	(0.69	)*	$	1.07	—
Non-GAAP
Net income	$	592	$	564		$	28	5	%
Earnings per diluted share	$	0.46	$	0.41		$	0.05	11	%


*		Includes goodwill impairment charge of $1.39 billion recorded in the third quarter of 2007, which was not deductible for tax purposes.

This excerpt taken from the EBAY 8-K filed Jul 16, 2008.

Quarterly Business Highlights


	•	eBay Inc. repurchased approximately 19 million shares of its outstanding common stock at a cost of approximately $566 million. Since the inception of the share buyback program in the third quarter of 2006, the company has repurchased $4.7 billion of its common stock.

	•	eBay announced initiatives to enhance the safety and vibrancy of the marketplace including: new rewards and discounts for PowerSellers and expanded protections for customers using PayPal.

	•	eBay Motors completed agreements to feature certified pre-owned inventory from Chrysler, GM and Lexus on its showroom hub.

	•	The company’s global classifieds businesses averaged 81 million unique visitors per month during the quarter, representing an increase of 121% year-over-year.

	•	StubHub announced a deal making it the official online secondary ticket marketplace for Madonna’s 2008 North American Tour. The company reached a milestone with its 15 millionth ticket sold.

	•	PayPal signed merchant services deals with Delta Airlines, Blockbuster.com, Arcadia Group (U.K.) and William Hill (U.K.).

	•	Skype launched 4.0 in Beta, the largest redesign of the Skype interface since the company’s inception.

	•	Skype named former Motorola veteran, Scott Durchslag, to the position of chief operating officer to oversee product strategy and marketing.

Financial Highlights (presented in millions, except per share data and percentages)


	Second Quarter
	2008		2007		Change

Net revenue	$	2,196	$	1,834	$	361	20	%
GAAP
Net income	$	460	$	376	$	85	22	%
Earnings per share (diluted)	$	0.35	$	0.27	$	0.07	27	%
Non-GAAP
Net income	$	568	$	471	$	96	20	%
Earnings per share (diluted)	$	0.43	$	0.34	$	0.09	25	%

This excerpt taken from the EBAY 8-K filed Apr 16, 2008.

Quarterly Business Highlights


	•	John Donahoe assumed the role of chief executive officer on March 31.

	•	eBay rolled out several initiatives in an effort to enhance user experience on the site — primarily by re-structuring fees for sellers and introducing a default search order based on relevance and seller quality.

	•	The company repurchased approximately 37 million shares of its outstanding common stock at a cost of approximately $1 billion.

	•	eBay Motors reached a milestone with its 3 millionth vehicle sold on the site.

	•	PayPal signed Merchant Service account deals with JetBlue Airlines, Ferrari Store (Italy), CompUSA and Office Depot (U.K.), among others.

	•	PayPal completed the acquisition of Fraud Sciences to accelerate the development of its fraud detection tools.

	•	PayPal expanded its seller protection plan for eBay Power Sellers.

	•	Skype named Josh Silverman as its chief executive officer on February 25.

	•	Skype achieved 100 billion cumulative Skype-to-Skype minutes.

	•	The company’s global portfolio of classifieds businesses reported a 101% increase in unique visitors year over year, with an average of 70 million monthly unique visitors.

	•	StubHub announced a deal making it the online ticket marketplace for the Daytona 500.

	•	The company completed the reorganization of select North American and European functional groups to align more closely with strategic priorities.

“We are pleased with our first quarter results. We generated strong revenue growth, even stronger earnings growth and excellent free cash flow. During the quarter, we opportunistically repurchased approximately 3% of eBay shares outstanding,” said Bob Swan, eBay Inc. CFO. “We are seeing some positive early indicators based on our key initiatives, but there is still much work to be done. For the remainder of 2008, we’ll continue to focus on the strategies we’ve put into motion, and we believe our guidance will allow us to invest in, and make the necessary changes to, our business while still delivering on our financial commitments.”

Financial Highlights (presented in millions, except per share data and percentages)


	First Quarter
	2008		2007		Change

Net revenue	$	2,192	$	1,768	$	424	24	%
GAAP
Net income	$	460	$	377	$	83	22	%
Earnings per share (diluted)	$	0.34	$	0.27	$	0.07	26	%
Non-GAAP
Net income	$	562	$	460	$	102	22	%
Earnings per share (diluted)	$	0.42	$	0.33	$	0.09	26	%

EXCERPTS ON THIS PAGE:

8-K	Oct 15, 2008

8-K	Jul 16, 2008

8-K	Apr 16, 2008

EBay (EBAY)

EBAY » Topics » Quarterly Business Highlights

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