Bangkok--23 Jul--Asia Aziam Burson-Marsteller
eBay Inc. (Nasdaq:EBAY) today reported financial results for its second quarter ended June 30, 2010. The e-commerce company posted second-quarter 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.
The company’s PayPal business delivered record second quarter performance. PayPal added a million new accounts each month during the quarter and its merchant services business continued to gain share in ecommerce. For three consecutive quarters, PayPal’s merchant services business has grown by over 40% year over year. The company also reported that the multiyear turnaround of its eBay business continued on track in the second quarter, with strength in Europe, expected performance in Asia, slower than expected growth in the U.S. and progress against underlying customer metrics focused on trust, value and selection for the world’s largest online marketplace.
“We delivered strong second quarter results, demonstrating the global strength and increasing diversity of our business,” said John Donahoe, eBay Inc. President and CEO. “PayPal is strong and getting stronger, building a robust and innovative global footprint serving all of ecommerce. And our eBay turnaround remains on track, with strong performance in Europe, significant changes in the U.S. and continued improvements to the buying and selling experience. We continue to focus on delivering strong financial results, managing a healthy balance sheet and making the necessary investments to compete, win and satisfy our customers.”
GAAP operating margin for the second quarter increased to 21.9%, compared to 19.6% for the same period last year. Non-GAAP operating margin increased slightly to 29.1% for the quarter, compared to 28.7% for the same period last year, as productivity gains were offset in part by faster growth in the company’s lower margin PayPal business.
For the full year 2010, eBay expects its PayPal business unit to continue its strong performance, resulting in a positive impact to full year net revenues of approximately $100 million and $0.06 to $0.08 per diluted share. The company expects its Marketplaces business unit to continue its strong growth in Europe, offset by its slower growth in the U.S.
MEDIA CONTACTS:
Jean Ow-Yeong Jittima Maekharosthammakul
eBay Southeast Asia Aziam Burson-Marsteller
Tel: +65 6510-4502 Tel: 02-252-9871
Email:
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