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| eBay Inc. | |
| Unaudited Condensed Consolidated Statement of Income from Continuing Operations - GAAP | |
| (U.S. Dollars In Millions, Except Per Share Amounts and Percentages) | |
| Three Months Ended | |
| Year Ended | |
| December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Net revenues | |
| $ | |
| 2,510 | |
| $ | |
| 2,380 | |
| $ | |
| 2,422 | |
| $ | |
| 2,483 | |
| $ | |
| 2,613 | |
| $ | |
| 2,501 | |
| $ | |
| 2,668 | |
| $ | |
| 2,638 | |
| $ | |
| 9,795 | |
| $ | |
| 10,420 | |
| Cost of net revenues | |
| 681 | |
| 647 | |
| 663 | |
| 689 | |
| 694 | |
| 678 | |
| 672 | |
| 606 | |
| 2,680 | |
| 2,650 | |
| Gross profit | |
| 1,829 | |
| 1,733 | |
| 1,759 | |
| 1,794 | |
| 1,919 | |
| 1,823 | |
| 1,996 | |
| 2,032 | |
| 7,115 | |
| 7,770 | |
| Operating expenses: | |
| Sales and marketing | |
| 554 | |
| 538 | |
| 566 | |
| 478 | |
| 569 | |
| 496 | |
| 559 | |
| 546 | |
| 2,136 | |
| 2,170 | |
| Product development | |
| 340 | |
| 345 | |
| 344 | |
| 301 | |
| 337 | |
| 334 | |
| 350 | |
| 304 | |
| 1,330 | |
| 1,325 | |
| General and administrative | |
| 288 | |
| 212 | |
| 237 | |
| 226 | |
| 206 | |
| 219 | |
| 250 | |
| 246 | |
| 963 | |
| 921 | |
| Provision for transaction losses | |
| 81 | |
| 69 | |
| 86 | |
| 96 | |
| 119 | |
| 112 | |
| 103 | |
| 88 | |
| 332 | |
| 422 | |
| Amortization of acquired intangible assets | |
| 1 | |
| 1 | |
| 1 | |
| 1 | |
| - | |
| - | |
| 2 | |
| 7 | |
| 4 | |
| 9 | |
| Total operating expenses | |
| 1,264 | |
| 1,165 | |
| 1,234 | |
| 1,102 | |
| 1,231 | |
| 1,161 | |
| 1,264 | |
| 1,191 | |
| 4,765 | |
| 4,847 | |
| Income from operations | |
| 565 | |
| 568 | |
| 525 | |
| 692 | |
| 688 | |
| 662 | |
| 732 | |
| 841 | |
| 2,350 | |
| 2,923 | |
| Gain (loss) on equity investments and warrant, net | |
| 319 | |
| (593) | |
| (1,221) | |
| (2,291) | |
| (1,875) | |
| (181) | |
| (273) | |
| (36) | |
| (3,786) | |
| (2,365) | |
| Interest and other income (expense), net | |
| (55) | |
| (29) | |
| (31) | |
| (50) | |
| 26 | |
| (47) | |
| (58) | |
| (81) | |
| (165) | |
| (160) | |
| Income (loss) from continuing operations before income taxes | |
| 829 | |
| (54) | |
| (727) | |
| (1,649) | |
| (1,161) | |
| 434 | |
| 401 | |
| 724 | |
| (1,601) | |
| 398 | |
| Income tax benefit (provision) | |
| (158) | |
| (16) | |
| 191 | |
| 310 | |
| 268 | |
| (151) | |
| (107) | |
| (156) | |
| 327 | |
| (146) | |
| Income (loss) from continuing operations | |
| $ | |
| 671 | |
| $ | |
| (70) | |
| $ | |
| (536) | |
| $ | |
| (1,339) | |
| $ | |
| (893) | |
| $ | |
| 283 | |
| $ | |
| 294 | |
| $ | |
| 568 | |
| $ | |
| (1,274) | |
| $ | |
| 252 | |
| Net income (loss) from continuing operations per basic share | |
| $ | |
| 1.24 | |
| $ | |
| (0.13) | |
| $ | |
| (0.96) | |
| $ | |
| (2.28) | |
| $ | |
| (1.47) | |
| $ | |
| 0.44 | |
| $ | |
| 0.44 | |
| $ | |
| 0.83 | |
| $ | |
| (2.28) | |
| $ | |
| 0.39 | |
| Net income (loss) from continuing operations per diluted share | |
| $ | |
| 1.23 | |
| $ | |
| (0.13) | |
| $ | |
| (0.96) | |
| $ | |
| (2.28) | |
| $ | |
| (1.47) | |
| $ | |
| 0.43 | |
| $ | |
| 0.43 | |
| $ | |
| 0.82 | |
| $ | |
| (2.28) | |
| $ | |
| 0.38 | |
| Weighted average shares: | |
| Basic | |
| 541 | |
| 548 | |
| 556 | |
| 587 | |
| 606 | |
| 647 | |
| 674 | |
| 681 | |
| 558 | |
| 652 | |
| Diluted | |
| 544 | |
| 548 | |
| 556 | |
| 587 | |
| 606 | |
| 658 | |
| 685 | |
| 693 | |
| 558 | |
| 663 | |
| Operating margin | |
| 22.5 % | |
| 23.9 % | |
| 21.7 % | |
| 27.9 % | |
| 26.3 % | |
| 26.5 % | |
| 27.4 % | |
| 31.9 % | |
| 24.0 % | |
| 28.1 % | |
| eBay Inc. | |
| Unaudited Condensed Consolidated Statement of Income from Continuing Operations - Non-GAAP | |
| (U.S. Dollars In Millions, Except Per Share Amounts and Percentages) | |
| Three Months Ended | |
| Year Ended | |
| December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Net revenues | |
| $ | |
| 2,510 | |
| $ | |
| 2,380 | |
| $ | |
| 2,422 | |
| $ | |
| 2,483 | |
| $ | |
| 2,613 | |
| $ | |
| 2,501 | |
| $ | |
| 2,668 | |
| $ | |
| 2,638 | |
| $ | |
| 9,795 | |
| $ | |
| 10,420 | |
| Cost of net revenues | |
| 664 | |
| 633 | |
| 650 | |
| 677 | |
| 682 | |
| 666 | |
| 659 | |
| 596 | |
| 2,624 | |
| 2,603 | |
| Gross profit | |
| 1,846 | |
| 1,747 | |
| 1,772 | |
| 1,806 | |
| 1,931 | |
| 1,835 | |
| 2,009 | |
| 2,042 | |
| 7,171 | |
| 7,817 | |
| Operating expenses: | |
| Sales and marketing | |
| 538 | |
| 521 | |
| 534 | |
| 463 | |
| 529 | |
| 471 | |
| 534 | |
| 526 | |
| 2,056 | |
| 2,060 | |
| Product development | |
| 279 | |
| 292 | |
| 275 | |
| 256 | |
| 287 | |
| 284 | |
| 295 | |
| 262 | |
| 1,102 | |
| 1,128 | |
| General and administrative | |
| 198 | |
| 175 | |
| 183 | |
| 186 | |
| 170 | |
| 176 | |
| 201 | |
| 181 | |
| 742 | |
| 728 | |
| Provision for transaction losses | |
| 81 | |
| 69 | |
| 86 | |
| 96 | |
| 119 | |
| 112 | |
| 103 | |
| 88 | |
| 332 | |
| 422 | |
| Total operating expenses | |
| 1,096 | |
| 1,057 | |
| 1,078 | |
| 1,001 | |
| 1,105 | |
| 1,043 | |
| 1,133 | |
| 1,057 | |
| 4,232 | |
| 4,338 | |
| Income (loss) from operations | |
| 750 | |
| 690 | |
| 694 | |
| 805 | |
| 826 | |
| 792 | |
| 876 | |
| 985 | |
| 2,939 | |
| 3,479 | |
| Gain (loss) on equity investments and warrant, net | |
| 1 | |
| - | |
| - | |
| (6) | |
| - | |
| (10) | |
| - | |
| - | |
| (5) | |
| (10) | |
| Interest and other income (expense), net | |
| (55) | |
| (29) | |
| (31) | |
| (50) | |
| (43) | |
| (63) | |
| (58) | |
| (81) | |
| (165) | |
| (245) | |
| Income from continuing operations before income taxes | |
| 696 | |
| 661 | |
| 663 | |
| 749 | |
| 783 | |
| 719 | |
| 818 | |
| 904 | |
| 2,769 | |
| 3,224 | |
| Income tax provision | |
| (115) | |
| (109) | |
| (109) | |
| (124) | |
| (136) | |
| (128) | |
| (143) | |
| (156) | |
| (457) | |
| (563) | |
| Net income from continuing operations | |
| $ | |
| 581 | |
| $ | |
| 552 | |
| $ | |
| 554 | |
| $ | |
| 625 | |
| $ | |
| 647 | |
| $ | |
| 591 | |
| $ | |
| 675 | |
| $ | |
| 748 | |
| $ | |
| 2,312 | |
| $ | |
| 2,661 | |
| Net income from continuing operations per basic share | |
| $ | |
| 1.07 | |
| $ | |
| 1.00 | |
| $ | |
| 0.99 | |
| $ | |
| 1.07 | |
| $ | |
| 1.07 | |
| $ | |
| 0.91 | |
| $ | |
| 1.00 | |
| $ | |
| 1.10 | |
| $ | |
| 4.14 | |
| $ | |
| 4.08 | |
| Net income from continuing operations per diluted share | |
| $ | |
| 1.07 | |
| $ | |
| 1.00 | |
| $ | |
| 0.99 | |
| $ | |
| 1.05 | |
| $ | |
| 1.05 | |
| $ | |
| 0.90 | |
| $ | |
| 0.99 | |
| $ | |
| 1.08 | |
| $ | |
| 4.11 | |
| $ | |
| 4.02 | |
| Weighted average shares: | |
| Basic | |
| 541 | |
| 548 | |
| 556 | |
| 587 | |
| 606 | |
| 647 | |
| 674 | |
| 681 | |
| 558 | |
| 652 | |
| Diluted | |
| 544 | |
| 551 | |
| 561 | |
| 593 | |
| 615 | |
| 658 | |
| 685 | |
| 693 | |
| 562 | |
| 663 | |
| Operating margin | |
| 29.9 % | |
| 28.9 % | |
| 28.7 % | |
| 32.4 % | |
| 31.6 % | |
| 31.7 % | |
| 32.8 % | |
| 37.3 % | |
| 30.0 % | |
| 33.4 % | |
| eBay Inc. | |
| Unaudited Condensed Consolidated Statement of Income from Continuing Operations - Non-GAAP Adjustments | |
| (U.S. Dollars In Millions) | |
| Three Months Ended | |
| Year Ended December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Net revenues | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| $ | |
| - | |
| Cost of net revenues | |
| (17) | |
| (a)(b) | |
| (14) | |
| (a)(b) | |
| (13) | |
| (a) | |
| (12) | |
| (a) | |
| (12) | |
| (a) | |
| (12) | |
| (a) | |
| (13) | |
| (a) | |
| (10) | |
| (a) | |
| (56) | |
| (a)(b) | |
| (47) | |
| (a) | |
| Gross profit | |
| 17 | |
| 14 | |
| 13 | |
| 12 | |
| 12 | |
| 12 | |
| 13 | |
| 10 | |
| 56 | |
| 47 | |
| Operating expenses: | |
| Sales and marketing | |
| (16) | |
| (a) | |
| (17) (a) | |
| (32) (a)(d) | |
| (15) (a)(d) | |
| (40) (a)(d) | |
| (25) (a) | |
| (25) (a) | |
| (20) (a) | |
| (80) (a)(d) | |
| (110) | |
| (a)(d) | |
| Product development | |
| (61) | |
| (a) | |
| (53) (a) | |
| (69) (a)(d) | |
| (45) (a) | |
| (50) (a)(d) | |
| (50) (a) | |
| (55) (a) | |
| (42) (a) | |
| (228) (a)(d) | |
| (197) | |
| (a)(d) | |
| General and administrative | |
| (90) | |
| (a) | |
| (37) | |
| (a) | |
| (54) | |
| (a)(d) | |
| (40) | |
| (a)(d) | |
| (36) | |
| (a)(d) | |
| (43) | |
| (a) | |
| (49) | |
| (a)(d) | |
| (65) | |
| (a)(d) | |
| (221) | |
| (a)(d) | |
| (193) | |
| (a)(d) | |
| Amortization of acquired | |
| (1) | |
| (b) | |
| (1) | |
| (b) | |
| (1) | |
| (b) | |
| (1) | |
| (b) | |
| - | |
| - | |
| (2) | |
| (b) | |
| (7) | |
| (b) | |
| (4) | |
| (b) | |
| (9) | |
| (b) | |
| intangible assets | |
| Total operating expenses | |
| (168) | |
| (108) | |
| (156) | |
| (101) | |
| (126) | |
| (118) | |
| (131) | |
| (134) | |
| (533) | |
| (509) | |
| Income (loss) from operations | |
| 185 | |
| 122 | |
| 169 | |
| 113 | |
| 138 | |
| 130 | |
| 144 | |
| 144 | |
| 589 | |
| 556 | |
| Gain (loss) on equity investments | |
| (318) | |
| (e)(f)(g) | |
| 593 | |
| (e)(f)(g) | |
| 1,221 | |
| (e)(f)(g) | |
| 2,285 | |
| (e)(f)(g) | |
| 1,875 | |
| (e)(f)(g) | |
| 171 | |
| (e)(f)(g) | |
| 273 | |
| (e)(f)(g) | |
| 36 | |
| (f) | |
| 3,781 | |
| (e)(f)(g) | |
| 2,355 | |
| (e)(f)(g) | |
| and warrant, net | |
| Interest and other income | |
| - | |
| - | |
| - | |
| - | |
| (69) (d) | |
| (16) (d) | |
| - | |
| - | |
| - | |
| (85) | |
| (d) | |
| (expense), net | |
| Income (loss) from continuing | |
| (133) | |
| 715 | |
| 1,390 | |
| 2,398 | |
| 1,944 | |
| 285 | |
| 417 | |
| 180 | |
| 4,370 | |
| 2,826 | |
| operations before income taxes | |
| Income tax benefit (provision) | |
| 43 | |
| (c) | |
| (93) (c) | |
| (300) (c) | |
| (434) (c) | |
| (404) (c) | |
| 23 | |
| (c) | |
| (36) (c) | |
| - | |
| (784) (c) | |
| (417) | |
| (c) | |
| Net income (loss) from continuing | |
| $ | |
| (90) | |
| $ | |
| 622 | |
| $ | |
| 1,090 | |
| $ | |
| 1,964 | |
| $ | |
| 1,540 | |
| $ | |
| 308 | |
| $ | |
| 381 | |
| $ | |
| 180 | |
| $ | |
| 3,586 | |
| $ | |
| 2,409 | |
| operations | |
| Stock-basedcompensation expense and related employer payroll taxes | |
| Amortization of acquired intangible assets | |
| Income taxes associated with certain non-GAAP entries | |
| Other significant gains, losses or charges | |
| Gains or losses on investments | |
| Change in fair market value of warrant | |
| Change in fair market value of Adevinta | |
| Attachments | |
| Original Link | |
| Original Document | |
| Permalink | |
| Disclaimer | |
| eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:08:07 UTC. | |