eBay today announced its fourth quarter 2012 results, ended December 31, 2012 with an increase of 18% in revenue to $4 billion, compared to the same period a year ago. The company reported the fourth quarter net income on a GAAP basis of $751 million, or $0.57 EPS and net income on non-GAAP basis of $927 million, or $0.70 EPS.
Moving to the full year, the company reported an increase of revenue of 21% to $14.1 billion, compared to 2011 while the company reported net income on a GAAP basis of $2.6 billion or $1.99 EPS and net income on non-GAAP basis of $3.1 billion, or $2.36 EPS, enabling over $175 billion of commerce volume (ECV) in the year, representing growth of 18%.
The company’s PayPal business experienced an active account growth accelerated to 15% with approximately 123 million accounts registered in the year. The business added nearly 2 million accounts a month in the fourth quarter. Net total payment volume (TPV) increased 24%, producing revenue growth of 24%. PayPal’s mobile payment volume reached nearly $14 billion in 2012, up more than 250% over the prior year.
The company’s Marketplaces business delivered record $2 billion revenue in the fourth quarter. GSI revenue for the quarter increased 10% to $398 million driven primarily by a 17% increase in GeC merchandise sales while the same store sales grew 19% outpacing ecommerce. For the full year, GSI shipped a record 146 million units for its clients. GSI contributed revenue of $1.1 billion in 2012.
For the next quarter and full year outlook, company is expecting net revenues in the range of $3,650 – $3,750 million with GAAP earnings per diluted share in the range of $0.48 – $0.50 and non-GAAP earnings per diluted share in the range of $0.60 – $0.62 while for the full year, the net revenues in the range of $16,000 – $16,500 million with GAAP earnings per diluted share in the range of $2.23 – $2.29 and non-GAAP earnings per diluted share in the range of $2.70 – $2.75.