eBay Inc. Reports Strong First Quarter 2011 Results
By: Richard Brewer-Hay
eBay Inc. today reported that revenue for Q1FY2011 increased 16% to $2.5 billion, compared to the same period of 2010. We reported Q1 net income on a GAAP basis of $475.9 million, or $0.36 per diluted share, and non-GAAP net income of $619.0 million, or $0.47 per diluted share, representing a 12% increase for each compared to the same period of 2010.
“In the first quarter, PayPal continued to drive strong growth globally, eBay sharply accelerated growth in the U.S. and we announced several acquisitions that we believe will enhance our leadership and innovation in commerce and payments. The year is off to a strong start,” said eBay Inc. President and CEO John Donahoe.
PayPal grew active registered accounts 16% year over year, ending the quarter with 97.7 million and adding approximately one million active accounts per month for the sixth consecutive quarter. The eBay Marketplaces business saw Gross merchandise volume excluding vehicles (GMV), increase by 8% year over year to $14.5 billion.
• Second quarter 2011 — eBay expects net revenues in the range of $2.550 to $2.650 billion with GAAP earnings per diluted share in the range of $0.36 to $0.37 and non-GAAP earnings per diluted share in the range of $0.45 to $0.46.
• Full year 2011 — eBay now expects net revenues in the range of $10.600 to $10.900 billion with GAAP earnings per diluted share in the range of $1.53 to $1.58 and non-GAAP earnings per diluted share in the range of $1.93 to $1.97.
As usual, there are a number of options for you to get more information around today’s earnings announcement. You can listen along to the live eBay earnings call. You can follow along with my tweets in real-time, beginning at 2pm PT. I will be live-blogging here on the homepage of eBay Ink.
You can access the full Q1 eBay earnings announcement.