eBay Inc. Corporate Fact Sheet: Q4 2011
About eBay Inc.
Founded in 1995 in San Jose, Calif., eBay Inc. (NASDAQ:EBAY) is about enabling commerce. We do so through eBay, the world's largest online marketplace, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive online payments; and through GSI, which facilitates ecommerce, multichannel retailing and digital marketing for global enterprises. X.commerce brings together the technology assets and developer communities of eBay, PayPal and Magento, an ecommerce platform, to support eBay Inc.'s mission of enabling commerce. 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 its global portfolio of online brands, visit www.ebayinc.com.
Q4 2011 Overview
Global ecommerce and online payments leader eBay Inc.(Nasdaq:EBAY) reported that revenue for the fourth quarter ended December 31, 2011, increased 35% to $3.4 billion, compared to the same period of 2010. The company reported fourth quarter net income on a GAAP basis of $2.0 Billion, or $1.51 per diluted share, and non-GAAP net income of $788.6 million, or $0.60 per diluted share*.
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Net Revenue
(in $ millions)
Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 2,495 2,546 2,760 2,966 3,380 Reported y/y Growth 5% 16% 25% 32% 35% Organic y/y Growth* 12% 14% 18% 18% 19% -
Diluted EPS
(in $)
GAAPNon-GAAP*Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 0.42 0.36 0.22 0.37 1.51 0.52 0.47 0.48 0.48 0.60 GAAP Reported y/y Growth -59% 20% -29% 12% 260% Non-GAAP Reported y/y Growth* 16% 12% 20% 20% 15% GAAP Op. Margin 24% 22% 19% 18% 22% Non-GAAP Op. Margin* 30% 29% 28% 25% 29% -
Cash Flow
(in $ millions)
OperatingFree*Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 854 700 783 809 982 657 551 543 526 691 Operating Cash Flow y/y Growth 11% 67% 8% 8% 15% Free Cash Flow y/y Growth* 10% 107% 5% -9% 5% CapEx as % of Revenue 8% 6% 9% 10% 9% FCF as % of Revenue 26% 22% 20% 18% 20%
*For reconciliation to the nearest GAAP figure, please go to http://www.ebayinc.com/list/resources
Net Revenue Diversification (in $ millions)
| 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 | Q3'10 | Q4'10 | Q1'11 | Q2'11 | Q3'11 | Q4'11 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marketplaces - U.S. Transactions | $533 | $574 | $556 | $584 | $581 | $557 | $563 | $486 | $503 | $569 | $528 | $511 | $495 | $524 | $541 | $539 | $559 | $591 | $593 | $621 |
| Marketplaces - International Transactions | $578 | $596 | $599 | $696 | $686 | $676 | $601 | $560 | $531 | $488 | $624 | $709 | $677 | $658 | $644 | $720 | $725 | $759 | $780 | $823 |
| Payments - U.S. Transactions | $248 | $251 | $257 | $305 | $318 | $325 | $320 | $330 | $338 | $344 | $349 | $395 | $407 | $400 | $410 | $457 | $467 | $476 | $488 | $523 |
| Payments - International Transactions | $171 | $181 | $191 | $235 | $242 | $256 | $257 | $274 | $267 | $286 | $301 | $362 | $360 | $371 | $388 | $469 | $476 | $516 | $545 | $634 |
| Communications Transactions | $74 | $86 | $94 | $110 | $120 | $130 | $137 | $137 | $143 | $156 | $173 | $103 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| GSI - Transactions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16 | $148 | $590 |
| Marketing Services & Other Revenue | $164 | $182 | $192 | $251 | $245 | $252 | $240 | $247 | $239 | $255 | $264 | $291 | $256 | $262 | $266 | $310 | $318 | $403 | $431 | $485 |
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 57% as of Q4 2011.
How the Portfolio was Built: 2001–Present
Strong Company … Getting Stronger
We have the financial flexibility to pursue attractive opportunities:
- $7.5 billion in cash and cash equivalents and non-equity investments on balance sheet at the close of Q4 2011
- $982 million in operating cash flow in Q4 2011
- $691 million in free cash flow* in Q4 2011
*For reconciliation to the nearest GAAP figure, please go to http://www.ebayinc.com/list/resources
A Powerful Business Model
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Top Line
(Net Revenues) (in $ billions)
2006 2011 6.0 11.7 -
Bottom Line
(Diluted EPS) (in $)
GAAPNon-GAAP*2006 2011 0.79 2.46 1.05 2.03 -
Cash Flow
(in $ billions)
OperatingFree*2006 2011 2.25 3.27 1.73 2.31
*For reconciliation to the nearest GAAP figure, please go to http://www.ebayinc.com/list/resources
We've built some of the strongest assets on the web
- $16.5B in GMV1 in Q4 2011 for eBay
- 100.4 million active users2 on eBay
- $33.4B Net TPV3 in Q4 2011 for PayPal
- 106.3 million active registered accounts4 on PayPal
- $1.4B in GeC5 Merchandise Sales in Q4 2011 for GSI
- Gross Merchandise Volume (excluding vehicles) 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.
- All users, excluding users of Half.com, StubHub, and our Korean subsidiaries (Gmarket and eBay Auction Co.), who bid on, bought, listed or sold an item within the previous 12-month period ended 12/31/2011. 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 networks and Zong, excluding PayPal's payment gateway business, and on Bill Me Later accoutns during the period.
- 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 ended 12/31/2011.
- Represents the retail value of all sales transactions, inclusive of freight charges and net allowance for returns and discounts, which flow through the GSI ecommerce services platform, whether we record the full amount of transaction as a product sale or a percentage of such transactions as a service fee.
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: February 2012