Ebay (EBAY) FY2011 results: revenue $11.7 billion, up 27.3% on the year
Ebay Inc. (EBAY) reported revenue of $11.7 billion for fiscal 2011, the year ended 31 December 2011, up 27.3% on the year before. Net income was $3.2 billion, up 79.3%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2012.
Revenue
$11.7 billion
+27.3% on the year
FY2008FY2011
Operating margin
20.4%
22.4% a year earlier
FY2008FY2011
Net income
$3.2 billion
+79.3% on the year
FY2008FY2011
Diluted EPS
$2.46
+80.9% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
11,652
9,156
8,727
+27.3%
Cost of revenue
3,460
2,565
2,480
+34.9%
Gross profit
8,191
6,592
6,248
+24.3%
Gross margin
70.3%
72.0%
71.6%
Research and development
1,235
908
803
+36.0%
Operating income
2,373
2,054
1,457
+15.6%
Operating margin
20.4%
22.4%
16.7%
Interest expense
25.0
n/a
n/a
Pre-tax income
3,910
2,098
2,879
+86.3%
Income tax
681
297
490
+128.8%
Effective tax rate
17.4%
14.2%
17.0%
Net income
3,229
1,801
2,389
+79.3%
Net margin
27.7%
19.7%
27.4%
Diluted EPS
$2.46
$1.36
$1.83
+80.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,274
2,746
2,908
+19.2%
Capital expenditure
963
724
567
+33.1%
Free cash flow
2,310
2,022
2,341
+14.3%
Free cash flow margin
19.8%
22.1%
26.8%
Cash from investing
-3,307
-2,282
-1,149
Cash from financing
-838
1,234
-946
Depreciation and amortisation
603
508
473
+18.6%
Share-based compensation
457
381
395
+19.8%
Buybacks
1,064
711
0.0
+49.6%
Diluted shares, weighted
1,313m
1,327m
1,305m
-1.1%
Shares outstanding at period end
1,286m
1,298m
1,298m
-0.9%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
17,930
15,302
13,788
+17.2%
Short-term borrowings
n/a
n/a
0.0
Debt
2,090
1,794
0.0
+16.5%
Other liabilities
7,301
4,907
4,621
+48.8%
Total liabilities and equity
27,320
22,004
18,408
+24.2%
Fixed assets
1,986
1,523
1,314
+30.4%
Goodwill
8,365
6,193
6,143
+35.1%
Intangible assets
1,406
541
768
+160.1%
Investments
3,691
3,537
2,326
+4.3%
Cash and equivalents
4,691
5,577
4,000
-15.9%
Receivables
682
454
408
+50.0%
Other assets
6,499
4,177
3,450
+55.6%
Total assets
27,320
22,004
18,408
+24.2%
10-K for the year ended 31 December 2011, filed 31 January 2012: the filing.