January 21st, 2010
eBay Inc. announced earnings for Q4 and full year ended December 31, 2009. Fourth-quarter revenue was $2.4 billion, up 16% from the same period last year. This includes the $112 million in revenue from Skype during the period that we still fully owned it. The year-over-year increase was attributed primarily to “excellent growth in PayPal and StubHub and improvement in growth rates in the core eBay business, as well as the positive impact from foreign currency movements.”
The company recorded net income on a GAAP basis of $1.4 billion or $1.02 per diluted share, and non-GAAP net income of $585.8 million or $0.44 per diluted share for the fourth quarter of 2009. For the full year, eBay Inc. posted $8.7 billion in revenue, net income on a GAAP basis of $2.4 billion or $1.83 per diluted share, and non-GAAP net income of $2.1 billion or $1.58 per diluted share.
“We delivered a strong fourth quarter with double-digit revenue growth driven by exceptional performance at PayPal and turnaround progress and momentum in our core eBay business,” said eBay Inc. President and CEO John Donahoe. “PayPal significantly expanded its presence globally and, for the first time, processed more than $20 billion in total payment volume in a quarter. Gross merchandise volume and sold items, accelerated for the third consecutive quarter. We are starting 2010 with significant progress against our three-year growth strategies for PayPal and eBay and a clear focus on our priorities going forward.”
eBay Inc. generated $770.6 million of operating cash flow $597.7 million of free cash flow during the fourth quarter.
After taking a break last quarter I will be back live-blogging our earnings via Twitter this afternoon. Therefore, if you are unable to listen along to the live earnings call by clicking here, you can follow along with my tweets in real-time, beginning at 2pm PT. Also, you can get up-to-the-minute information here and access the full press release here.
For folks interested in following the entire conversation on Twitter, the hashtag is #eBayQ409.
Cheers,
RBH
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