eBay Announces Q2 Results With non-GAAP Net Income Of $730 Million, GAAP Net Income Was $692 Million

Posted on Jul 18 2012 - 8:26pm by Editorial Staff

As expected, eBay just announced its quarter second results for the quarter ended June 30, 2012 increased 23% to $3.4 billion, compared to the same period of 2011. The company reported second quarter net income on a non-GAAP basis of $730 million, or $0.56 per diluted share, up 16% year over year while the GAAP net income was $692 million, or $0.53 per diluted share.

PayPal ended the quarter with 113.2 million active registered accounts, a 13% increase over the second quarter of 2011. PayPal revenue increased 26% year over year. PayPal’s net total payment volume (TPV) grew 20% year over year to $34.5 billion. This quarter, the company announced a joint venture with SoftBank in Japan, extending its global expansion strategy for small business payment solution PayPal Here.

eBay’s Marketplaces business delivered its strongest organic growth rate in gross merchandise volume (GMV), excluding vehicles, since 2006, at 15% on a year-over-year basis, excluding the effects of foreign currency (FX). Also excluding FX, international GMV, excluding vehicles, increased 16% and fixed price GMV, excluding vehicles, increased 20% year over year.

Marketplaces GMV, excluding vehicles, increased 10% year over year to $16 billion in the second quarter of 2012. Marketplaces revenue increased 9% year over year. Sold items increased 20% compared to the second quarter of 2011, 2.5 percentage point acceleration. International GMV, excluding vehicles, increased 8% year over year to $10 billion, driven by strong growth in Europe and Asia-Pacific. Fixed price GMV, which represented 65% of total GMV in the second quarter, grew 13% globally year over year.

The company’s GSI business, which was acquired in the second quarter of 2011, contributed $221 million in revenue for the second quarter. GSI generated $674 million in global ecommerce (GeC) merchandise sales during the second quarter. Same store sales grew 21% year over year, reflecting strong ecommerce sales from retail clients.

The company last traded at 40.46 +1.39 (3.56%).

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