EBay Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter Ending March 31, 2014, Full Year Ending December 31, 2014 and Full Year 2015
January 22, 2014 at 09:15 pm
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eBay Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net revenues of $4,530 million against $3,992 million a year ago. Income from operations was $1,022 million against $874 million a year ago. Income before income taxes was $1,028 million against $877 million a year ago. Net income was $850 million against $751 million a year ago. Diluted earnings per share was $0.65 against $0.57 a year ago. Net cash provided by operating activities was $1,713 million against $1,386 million a year ago. Purchases of property and equipment, net was $281 million against $296 million a year ago. Non-GAAP operating income was $1,322 million against $1,136 million a year ago. Non-GAAP net income was $1,067 million against $927 million a year ago. Non-GAAP diluted net income per share was $0.81 against $0.70 a year ago. The company is reporting higher earnings and revenue for the last three months of 2013, driven by a strong holiday season for its e-commerce site and PayPal. Adjusted earnings were 81 cents per share.
For the year, the company reported net revenues of $16,047 million against $14,072 million a year ago. Income from operations was $3,371 million against $2,888 million a year ago. Income before income taxes was $3,466 million against $3,084 million a year ago. Net income was $2,856 million against $2,609 million a year ago. Diluted earnings per share was $2.18 against $1.99 a year ago. Net cash provided by operating activities was $4,995 million against $3,838 million a year ago. Purchases of property and equipment, net was $1,250 million against $1,257 million a year ago. Non-GAAP operating income was $4,407 million against $3,841 million a year ago. Non-GAAP net income was $3,556, million against $3,100 million a year ago. Non-GAAP diluted net income per share was $2.71 against $2.36 a year ago.
For the first quarter ending March 31, 2014, the company expects net revenues in the range of $4,150 million - $4,250 million or diluted EPS of $0.51 - $0.53 and non-GAAP diluted EPS in the range of $0.65 - $0.67.
For the full year ending December 31, 2014, the company expects net revenues in the range of $18,000 million - $18,500 million or diluted EPS of $2.40 - $2.45 and non-GAAP diluted EPS in the range of $2.95 - $3.00. For the full year 2014, the company expects free cash flow to be $3.7 billion to $4 billion, the non-GAAP effective tax rate to be 18.5% to 19.5% and CapEx to be 7% to 9% of revenue.
For the full year 2015, the company expects revenues of $20.5 billion to $21.5 billion, representing growth of 14% to 16%, non-GAAP EPS year-over-year growth of greater than 10% and free cash flow will be more than $11 billion from 2013 to 2015.
eBay Inc. is the leading online marketplace. The group operates a computer platform that allows individuals and professionals to conduct their purchasing and selling transactions for goods and services. The activity is ensured through many Internet sites (ebay.com available in several languages, half.com, rent.com, shopping.com, kijiji.com, mobile.de and marktplaats.nl).
Net sales are distributed geographically as follows: the United States (49.4%), the United Kingdom (16.1%), Germany (10.5%) and other (24%).
EBay Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter Ending March 31, 2014, Full Year Ending December 31, 2014 and Full Year 2015