FEATURED POSTRichard Brewer-Hay / Thursday, April 30th, 2009
I tweeted about this earlier in the week but I wanted to make sure those of you who hadn’t had a chance to listen to it yet, go check it out. Scott Thompson, President of PayPal, spoke with Dr. Moira Gunn, the host of National Public Radio’s Tech Nation program a few weeks ago and they dug down into a number of aspects of the PayPal biz model.
You can see Scott’s intro to the conversation over on the PayPal Blog.
The conversation can be listened to here.
Cheers,
RBH
FEATURED POSTRichard Brewer-Hay / Tuesday, April 28th, 2009
As most of you know, I’m in SF this week for the NewComm Forum and the Inbound Marketing Summit. In a nutshell, both are targeted at determining the how, what, who and why behind social media / marketing in business.
On the heels of the article, “Corporate Blogs and ‘Tweets’ Must Keep SEC in Mind” in the Wall Street Journal yesterday, I participated in a panel at the NewComm Forum in San Francisco titled: Social Media & Investor Relations – Disclosure & Other Issues with Tom Foremski, Silicon Valley Watcher; David Gelles, Financial Times; Bryan Rhoads, Intel and moderated by Brian Solis, FutureWorks. (More …)
FEATURED POSTRichard Brewer-Hay / Friday, April 24th, 2009
I realize this is a bit unorthodox. Until now, this feature has focused on eBay Inc. employees to give you a better insight into my colleagues and co-workers. However, it’s Feel Good Friday and one of the folks I follow pretty closely online is doing something that warranted attention and he’s using eBay Giving Works to help make it happen.
In a nutshell, John Lawson (aka ColderICE), is raising money for breast cancer research by auctioning off advertising space on his chest. I’ve included key sections of the official press release below but I thought I’d take advantage of getting some time with John to have him provide me with his answers to “5 Minutes with…” (More …)
FEATURED POSTRichard Brewer-Hay / Wednesday, April 22nd, 2009
This twitter session contains non-GAAP measures relating to the company’s performance. You can find the reconciliation of those measures to the nearest comparable GAAP measures here.
This twitter session may make forward-looking statements relating to our future performance that are based on our current expectations, forecasts and assumptions and involve risks and uncertainties, including those relating to the company’s ability to grow its businesses, user base and user activity.
Our actual results may differ materially from those discussed in this call for a variety of reasons, including, but not limited to, the impact of recent global economic events and the global economic downturn; foreign-exchange-rate fluctuations; changes in political, business, and economic conditions; the impact and integration of recent and future acquisitions; our increasing need to grow revenues from existing users in established markets; an increasingly competitive environment for our businesses; the complexity of managing a growing company with a broad range of businesses, our need to manage regulatory, tax, IP and litigation risks (including risks specific to PayPal and the financial industry, and risks specific to Skype’s technology and to the VoiP industry); and our need to upgrade our technology and customer service infrastructure at reasonable cost while adding new features and maintaining site stability.
You can find more information about factors that could affect our operating results in our most recent annual report on our Form 10-K and our subsequent quarterly reports on Form 10-Q (available at http://investor.ebay.com). You should not unduly rely on any forward-looking statements, and we assume no obligation to update them. All information in this twitter session is as of April 22, 2009, and we do not intend, and undertake no duty, to update this presentation.
FEATURED POSTadmin / Wednesday, April 22nd, 2009
FEATURED POSTadmin / Wednesday, April 22nd, 2009
Wednesday, April 22, 2009
San Jose, Calif., April 22, 2009 — eBay Inc. (Nasdaq: EBAY) today reported financial results for the first quarter ended March 31, 2009. The ecommerce company posted first quarter revenue of $2.02 billion, a $171.6 million year-over-year decrease caused primarily by the impact of the stronger dollar and the decline of the core Marketplaces business in difficult macroeconomic conditions. PayPal, Classifieds and Skype performed well, delivering year-over-year revenue growth. Text and graphical advertising revenue was flat as compared to the prior-year quarter. The company recorded net income on a GAAP basis of $357.1 million or $0.28 per diluted share, and non-GAAP net income of $499.9 million or $0.39 per diluted share.
GAAP operating margin decreased to 20.9% for the quarter, compared to 25.2% for the same period last year. Non-GAAP operating margin decreased to 30.7% for the quarter, compared to 32.0% for the same period last year. The decrease in operating margins was caused primarily by the impact of the stronger dollar and the company’s continuing shift to faster growing, lower margin revenue businesses.
eBay Inc. generated $668.5 million of operating cash flow during the first quarter. Free cash flow during the quarter was $577.6 million.
“We delivered solid results in the first quarter and moved aggressively to strengthen our portfolio for longer-term growth,” said eBay Inc. President and CEO John Donahoe. “With a macroeconomic environment that remains challenging, we are focused on operating discipline and strong execution of our three-year growth priorities in our core ecommerce and online payments businesses.”
The Payments business unit reported a strong quarter with $643.0 million in revenue, an increase of 11% year-over-year. Net total payment volume (TPV) for the quarter was $15.86 billion, an increase of 10%. The revenue and net TPV growth was driven by continued momentum in PayPal Merchant Services and the contribution made by Bill Me Later. Continued increases in PayPal penetration on eBay helped offset the negative impact of addressable gross merchandise volume (GMV) on revenue and TPV. Active registered accounts reached 73.1 million, an increase of 22% year-over-year. The Payments business will continue to focus on the acquisition of new merchants, greater penetration into the Marketplaces business and the growth of Bill Me Later.
The Marketplaces business unit, which consists of eBay, Shopping.com, StubHub, Kijiji and other ecommerce sites, recorded $1.22 billion in revenue, equating to an 18% year-over-year decline. The revenue drop was attributable to the impact of the strengthening dollar and the decline of the core business in difficult macroeconomic conditions. Approximately 54% of Marketplaces revenue came from markets outside of the U.S. GMV (excluding vehicles) was $10.80 billion for the quarter, a decrease of 16%, compared to the first quarter of 2008. Online classifieds revenue increased 23% year-over-year. eBay Marketplaces continues to focus on stabilizing its core business by improving trust, value and selection for customers while looking for ways to drive growth through geographic, format and category expansion.
Skype contributed $153.2 million in revenue for the quarter, representing 21% year-over-year growth. Skype added 37.9 million new users during the quarter and ended the period with more than 443.2 million registered users. In addition to growing its user base, Skype is focused on product strategies to enhance customer engagement. On April 14, 2009, eBay Inc. announced plans to separate Skype into an independent company commencing with an initial public offering during the first half of 2010.
FEATURED POSTRichard Brewer-Hay / Wednesday, April 22nd, 2009
eBay reported first quarter 2009 earnings results a few minutes ago. First quarter revenue was $2.02 Billion (a $171.6 million decrease year-over-year) . Net income on a GAAP basis was $357.1 million ($0.28 per diluted share), and non-GAAP net income was $499.9 million ($0.39 per diluted share).
eBay Inc. generated $668.5 million of operating cash flow during Q1 and free cash flow during the quarter was $577.6 million.
I will once again live-blog the earnings call on our Twitter feed (http://twitter.com/ebayinkblog) at 2pm PT this afternoon.
(More …)
FEATURED POSTadmin / Wednesday, April 22nd, 2009
FEATURED POSTRichard Brewer-Hay / Friday, April 17th, 2009
I started this feature a few weeks ago and I love how honest and open folks are being with it. I want to really get as many employees as possible – regardless of department or geography. Today, I’m sharing 5 Minutes with… Roberto “Bobby” Garcia. Bobby works in the eBay Cafe and my wife knows when I’m “being good” if I say I’ve seen Bobby because during the lunch hour he works the cash register in the salad bar line. If I don’t see Bobby, it usually means I’m having the “daily starch” and burger from the grill. Today I had salad, which is good for me and also good for you because I get to introduce you to Bobby Garcia. (More …)
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Q1 09 Earnings Release
