Ebay (EBAY) FY2018 results: revenue $8.7 billion, down 12.9% on the year
Ebay Inc. (EBAY) reported revenue of $8.7 billion for fiscal 2018, the year ended 31 December 2018, down 12.9% on the year before. Net income was $2.5 billion, and diluted earnings per share $2.55. The figures are the company's own, from the 10-K it filed with the SEC on 30 January 2019.
Revenue
$8.7 billion
-12.9% on the year
FY2011FY2018
Operating margin
20.3%
22.8% a year earlier
FY2011FY2018
Net income
$2.5 billion
FY2011FY2018
Diluted EPS
$2.55
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
8,650
9,927
9,298
-12.9%
Cost of revenue
2,023
2,222
2,007
-9.0%
Gross profit
6,627
7,706
7,294
-14.0%
Gross margin
76.6%
77.6%
78.4%
Research and development
1,051
1,224
1,114
-14.1%
Operating income
1,752
2,265
2,325
-22.6%
Operating margin
20.3%
22.8%
25.0%
Interest expense
326
292
225
+11.6%
Pre-tax income
2,249
2,276
3,651
-1.2%
Income tax
121
3,288
-3,634
-96.3%
Effective tax rate
5.4%
144.5%
-99.5%
Net income
2,530
-1,016
7,266
Net margin
29.2%
-10.2%
78.1%
Diluted EPS
$2.55
-$0.95
$6.35
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,658
3,146
2,826
-15.5%
Capital expenditure
623
666
626
-6.5%
Free cash flow
2,035
2,480
2,200
-17.9%
Free cash flow margin
23.5%
25.0%
23.7%
Cash from investing
2,894
-1,296
-2,017
Cash from financing
-5,398
-1,784
-744
Depreciation and amortisation
591
612
605
-3.4%
Share-based compensation
465
483
416
-3.7%
Buybacks
4,502
2,746
2,943
+63.9%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
991m
1,064m
1,144m
-6.9%
Shares outstanding at period end
915m
1,029m
1,087m
-11.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
6,281
8,063
10,539
-22.1%
Debt
9,231
10,015
8,960
-7.8%
Other liabilities
7,307
7,903
4,348
-7.5%
Total liabilities and equity
22,819
25,981
23,847
-12.2%
Fixed assets
1,597
1,597
1,516
0.0%
Goodwill
5,160
4,773
4,501
+8.1%
Intangible assets
92.0
69.0
102
+33.3%
Investments
6,491
10,074
9,302
-35.6%
Cash and equivalents
2,202
2,120
1,816
+3.9%
Receivables
712
695
592
+2.4%
Other assets
6,565
6,653
6,018
-1.3%
Total assets
22,819
25,981
23,847
-12.2%
10-K for the year ended 31 December 2018, filed 30 January 2019: the filing.