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January 16, 2013

eBay reports 18% rise in Q4 revenue, net income declines

Net income declined 62% to $751m.

By CBR Staff Writer

eBay has reported a 18% rise in its revenue to $3.99bn for the fourth quarter of 2012, compared to $3.38bn reported for the corresponding period in 2011.

The increase in revenues is driven by sales of its marketplace and PayPal units.

Net income in the fourth quarter declined 62% to $751m.

The company’s PayPal division revenue increased 24% to $1.5bn, compared to $1.24bn for the same period last year

The marketplaces division’s revenue rose 16% to $2.05bn, compared to 1.77bn for the same period prior year.

PayPal’s mobile payment volume increased over 250% to about $14bn last year as more consumers used their smartphones and tablets to pay online.

For the first quarter of 2013, eBay expects revenue to be in the range of $3.65bn to $3.75bn and earnings per diluted share in the range of $0.48 – $0.50.

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eBay president and CEO John Donahoe said: "eBay mobile finished the year with $13 billion in volume – more than double the prior year – and PayPal mobile handled almost $14 billion in payment volume, more than triple the prior year. In 2013, we expect each to exceed $20 billion."

For the full year the company expects for revenues to be between $16bn to $16.5bn and profits of $2.7 to $2.75 per in share on a non-GAAP basis.

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