Ebay (EBAY) FY2013 results: revenue $8.3 billion, down 41.3% on the year
Ebay Inc. (EBAY) reported revenue of $8.3 billion for fiscal 2013, the year ended 31 December 2013, down 41.3% on the year before. Net income was $2.9 billion, up 9.5%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2014.
Revenue
$8.3 billion
-41.3% on the year
FY2008FY2013
Operating margin
29.7%
20.5% a year earlier
FY2008FY2013
Net income
$2.9 billion
+9.5% on the year
FY2008FY2013
Diluted EPS
$2.18
+9.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
8,257
14,072
11,652
-41.3%
Cost of revenue
1,492
4,216
3,460
-64.6%
Gross profit
6,765
9,856
8,191
-31.4%
Gross margin
81.9%
70.0%
70.3%
Research and development
915
1,573
1,235
-41.8%
Operating income
2,454
2,888
2,373
-15.0%
Operating margin
29.7%
20.5%
20.4%
Interest expense
95.0
63.0
25.0
+50.8%
Pre-tax income
2,571
3,084
3,910
-16.6%
Income tax
504
475
681
+6.1%
Effective tax rate
19.6%
15.4%
17.4%
Net income
2,856
2,609
3,229
+9.5%
Net margin
34.6%
18.5%
27.7%
Diluted EPS
$2.18
$1.99
$2.46
+9.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,995
3,838
3,274
+30.1%
Capital expenditure
678
1,257
963
-46.1%
Free cash flow
4,317
2,581
2,310
+67.3%
Free cash flow margin
52.3%
18.3%
19.8%
Cash from investing
-6,012
-3,763
-3,307
Cash from financing
-1,354
1,951
-838
Depreciation and amortisation
495
767
603
-35.5%
Share-based compensation
298
488
457
-38.9%
Buybacks
1,343
898
1,064
+49.6%
Diluted shares, weighted
1,313m
1,313m
1,313m
0.0%
Shares outstanding at period end
1,294m
1,294m
1,286m
0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
23,647
20,865
17,930
+13.3%
Debt
4,123
4,519
2,090
-8.8%
Other liabilities
13,718
11,690
7,301
+17.3%
Total liabilities and equity
41,488
37,074
27,320
+11.9%
Fixed assets
2,760
2,491
1,986
+10.8%
Goodwill
4,855
8,537
8,365
-43.1%
Intangible assets
941
1,128
1,406
-16.6%
Investments
9,502
5,635
3,691
+68.6%
Cash and equivalents
2,848
6,817
4,691
-58.2%
Receivables
899
822
682
+9.4%
Other assets
19,683
11,644
6,499
+69.0%
Total assets
41,488
37,074
27,320
+11.9%
10-K for the year ended 31 December 2013, filed 31 January 2014: the filing.