EBay Inc. Corporate Fact Sheet: Q1 2009
eBay Inc. Corporate Fact Sheet: Q1 2009
eBay Inc.
Founded in 1995, eBay Inc. connects hundreds of millions of people around the world every day, empowering them to explore new
opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments
and communications. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay,
PayPal, Skype, StubHub, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.
Q1 2009 Overview
eBay Inc. posted a first quarter decline in revenue caused primarily by the impact of the stronger dollar and the decline of the
Marketplaces business in a difficult macroeconomic climate. However, Q1 revenue and EPS was slightly above the quarterly guidance
we set. During an extremely challenging economic climate the company managed its business with a prudent mix of operating
discipline and competitiveness, growing its increasingly diversified portfolio of businesses. PayPal, Classifieds and Skype performed
well, growing revenue on a year-over-year basis, while text and graphical advertising remained flat.
Revenue (in $ millions)
GAAP
EPS (in $)
Operating
Cash Flow
Non-GAAP*
0.46
Free*
(in $ millions)
0.42
0.43
0. 41
0.38
0.39
766
738
0.34
0.35
693
684
669
632
2,192
2,196
617
0. 29
0. 28
578
543
525
2,118
2,036
2,020
Q1’08 Q2’08 Q3’08 Q4’08 Q1’09
Q1’08 Q2’08 Q3’08 Q4’08 Q1’09
Q1’08 Q2’08 Q3’08 Q4’08 Q1’09
Reported y/y Growth
GAAP Reported y/y Growth
GAAP Reported y/y Growth
24% 20% 12% -7% -8%
26% 27% -155% -26% -19%
36% 13% 10% -14% -9%
Organic y/y Growth
Non-GAAP Reported y/y Growth
Non-GAAP Reported y/y Growth
17% 15% 10% -1% -1%
26% 25% 11% -9% -7%
32% 16% 6% -21% -9%
GAAP Op. Margin
Capex % of Revenue
25% 25% 25% 22% 21%
6% 6% 7% 8% 5%
Non-GAAP Op. Margin
FCF % of Revenue
32% 32% 32% 33% 31%
29% 28% 26% 26% 29%
Quarterly Highlights
eBay Inc. unveiled its three-year strategic road map at its analyst day on March 11 and was named to Fortune’s “100 Best
Companies to Work For” list.
PayPal continued to extend its online leadership on merchant sites including Match.com (U.S.), LaSenza.com (Canada), Emirates
Airlines (U.K.), EDEKA.com (Germany), EMP (Germany), Rue du Commerce (France), Tom Tom (Netherlands), Medio Tiempo
(Mexico) and Elsotano (Mexico). Also, PayPal partnered with Zuora on its new subscription service for Facebook application
developers, which helps developers monetize their Facebook applications by accepting payments with PayPal.
Marketplaces Based on its success, eBay made its Daily Deals program permanent and expanded the number of deals offered.
Skype launched the final version of an "all new Skype" for Windows 4.0 Gold with enhancements to video calling, voice call quality
and ease of use. Also, Skype expanded its mobile strategy by extending its presence to Google’s Android operating system, Apple’s
iPhone; and also announced plans to enable Skype on select Nokia devices and on RIM’s BlackBerry. And, Skype introduced Skype
for SIP (Session Initiation Protocol), a major milestone for penetrating the business market.
Emerging Businesses: During the quarter, eBay’s Classifieds businesses averaged 84.6 million unique visitors per month,
representing an increase of 21% year over year.
Revenue Diversification
eBay Inc. has an increasingly diversified revenue model. In
$2,500,000
only three years, the company's revenue from all sources
other than Marketplaces transactions has jumped from 33%
$2,000,000
to 49% of eBay Inc.'s total revenue as of Q109.
$1,500,000
$1,000,000
Other
Marketplaces – International Transactions
$500,000
Communications Transaction
Marketplaces – U.S.Transactions
Payments Transaction
$0
Q1'06 Q2'06
Q3'06 Q4'06 Q1' 07
Q2'07 Q3'07 Q4'07 Q1' 08 Q2' 08 Q3'08 Q4'08 Q1'09
*For reconciliation to the nearest GAAP figure, please go to news.ebay.com/fastfacts.cfm
For more information, contact Jose Mallabo at jmallabo@ebay.com or call eBay’s media hotline at 408.376.7458. For the latest eBay Inc. news, go to ebayinkblog.com.
Updated: Q1 2009
HOW THE PORTFOLIO* WAS BUILT: 2001−PRESENT
*Key acquisitions only.
eBay has a presence in 39 markets, not including classifieds properties
**Joint venture or minority investment stake
Strong Company … Getting Stronger
We have the financial flexibility to pursue attractive opportunities:
$3.1 billion in cash and cash equivalents on balance sheet in Q1 2009
$668.5 million in operating cash flow in Q1 2009
$577.6 million in free cash flow in Q1 2009
A Powerful Business Model
We’ve built 3 of the web’s
best businesses/brands
Top Line
Bottom Line
Cash Flow
• $13B Total GMV in Q109 for eBay
(in billions)
GAAP
Operating
• 88M active users on eBay
Non-GAAP*
Free*
• 9% of global ecommerce paid
$8.5B
via PayPal
1.71
$2.90
1.36
$2. 30
• 73M active users on PayPal
$3.3B
$1.30
0.61
$1.00
0.57
• $16B Net TPV in Q109 for PayPal
200
2008
4 200
200
8
4 200
2004
• 443 million registered Skype
8 users
*For reconciliation to the nearest GAAP figure, please go to news.ebay.com/fastfacts.cfm
For more information, contact Jose Mallabo at jmallabo@ebay.com or call eBay’s media hotline at 408.376.7458. For the latest eBay Inc. news, go to ebayinkblog.com.
Updated: Q1 2009
