eBay Inc. Corporate Fact Sheet: Q2 2010
eBay Inc.
Founded in 1995 in San Jose, Calif., eBay Inc. (NASDAQ:EBAY) connects millions of buyers and sellers globally on a daily basis through eBay, the world's largest online marketplace, and PayPal, which enables individuals and businesses to securely, easily and quickly send and receive online payments. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and our global portfolio of online brands, visit www.ebayinc.com.
Q2 2010 Overview
Global ecommerce and online payments leader eBay Inc. reported that revenue for the fiscal second quarter ended June 30, 2010, increased 6% to $2.2 billion, or 15% excluding Skype, compared to the same period of 2009. The company recorded second quarter net income on a GAAP basis of $412.2 million, or $0.31 per diluted share, and non-GAAP net income of $530.2 million, or $0.40 per diluted share, representing an 18% increase excluding Skype, compared to the same period of 2009.
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Net Revenue
(in $ millions)
Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 2,098 2,238 2,371 2,196 2,215 Reported y/y Growth -4% 6% 16% 9% 6% Organic y/y Growth* 1% 5% 12% 11% 13% -
Diluted EPS
(in $)
GAAPNon-GAAP*Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 0.25 0.27 1.02 0.30 0.31 0.37 0.38 0.44 0.42 0.40 GAAP Reported y/y Growth -28% -29% 258% 7% 24% Non-GAAP Reported y/y Growth* -14% -16% 9% 8% 8% GAAP Op. Margin 20% 20% 8% 22% 22% Non-GAAP Op. Margin* 29% 28% 29% 31% 29% -
Cash Flow
(in $ millions)
OperatingFree*Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 731 738 771 418 726 602 563 598 266 519 Operating Cash Flow y/y Growth -1% 6% 13% -37% -1% Free Cash Flow y/y Growth* -2% 4% 14% -54% 14% CapEx % of Revenue 6% 8% 7% 7% 9% FCF % of Revenue 29% 25% 25% 12% 23%
*For reconciliation to the nearest GAAP figure, please go to http://www.ebayinc.com/list/resources
Net Revenue Diversification (in $ thousands)
| Q1'07 | Q2'07 | Q3'07 | Q4'07 | Q1'08 | Q2'08 | Q3'08 | Q4'08 | Q1'09 | Q2'09 | Q3'09 | Q4'09 | Q1'10 | Q2'10 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marketplaces - U.S. Transactions | $532,933 | $573,640 | $556,544 | $584,156 | $581,456 | $556,999 | $562,790 | $485,952 | $503,251 | $569,000 | $528,000 | $511,000 | $495,485 | $524,086 |
| Marketplaces - International Transactions | $578,427 | $595,646 | $599,341 | $696,146 | $686,176 | $676,308 | $601,100 | $560,275 | $530,576 | $488,000 | $624,000 | $709,000 | $677,454 | $658,427 |
| Payments Transactions | $418,992 | $432,294 | $447,952 | $539,301 | $559,720 | $580,287 | $576,302 | $604,186 | $604,833 | $630,000 | $649,000 | $757,000 | $766,572 | $770,755 |
| Communications Transactions | $73,989 | $86,388 | $93,823 | $110,364 | $119,791 | $130,151 | $137,201 | $136,660 | $143,238 | $156,000 | $173,000 | $103,000 | $0 | $0 |
| Marketing Services & Other Revenue | $163,734 | $182,460 | $191,559 | $250,639 | $245,080 | $251,916 | $240,138 | $246,773 | $238,688 | $255,000 | $264,000 | $291,000 | $256,546 | $262,110 |
eBay Inc. has an increasingly diversified revenue model. Since Q1 2007, the company's revenue from all sources other than Marketplaces transactions has increased from 37% of eBay Inc.'s total revenue to 47% as of Q2 2010.
How the Portfolio was Built: 2001–Present
Strong Company … Getting Stronger
We have the financial flexibility to pursue attractive opportunities:
- $4.0 billion in cash and cash equivalents on balance sheet at the close of Q2 2010
- $726 million in operating cash flow in Q2 2010
- $519 million in free cash flow* in Q2 2010
A Powerful Business Model
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Top Line
(Net Revenues) (in $ billions)
2005 2009 4.6 8.7 -
Bottom Line
(Diluted EPS) (in $)
GAAPNon-GAAP*2005 2009 0.78 1.83 0.86 1.58 -
Cash Flow
(in $ billions)
OperatingFree*2005 2009 2.00 2.91 1.67 2.34
*For reconciliation to the nearest GAAP figure, please go to http://www.ebayinc.com/list/resources
We've built two of the web's best businesses/brands
- $14.7B Total GMV1 in Q2 2010 for eBay
- 91.8 million active users2 on eBay
- $21.4B Net TPV3 in Q2 2010 for PayPal
- 87.2 million active accounts4 on PayPal
- Gross Merchandise Volume reflects total value of all successfully closed items between users on eBay Marketplaces trading platforms during the quarter, regardless of whether the buyer and seller actually consummated the transaction. (Including vehicles)
- All users, excluding users of Half.com, StubHub, and our Korean subsidiaries (Gmarket and Internet Auction Co.), who bid on, bought, listed or sold an item within the previous 12-month period as of 6/30/2010. Users may register more than once, and as a result, may have more than one account.
- Net TPV (Net Total Payment Value) reflects the total dollar volume of payments, net of payment reversals, successfully completed through our Payments network or on Bill Me Later accounts during the quarter, excluding PayPal'spayment gateway business.
- All registered accounts that successfully sent or received at least one payment or payment reversal through the PayPal system or Bill Me Later accounts that are currently able to transact and that received a statement within the last 12 months as of 6/30/10.
For more information, contact eBay's media hotline at press@ebay.com or 408.376.7458. For the latest eBay Inc. news, go to http://www.ebayinc.com/news.
Updated: July 21, 2010