收益

eBay Inc. Reports Better Than Expected First Quarter 2021 Results

Press Release

Q1收入为300亿美元;GMV为275亿美元

  • 收入of $3.0 billion, up 42% on an as-reported basis and up 38% on an FX-Neutral basis
  • 总商品量为275亿美元,据报道的基础上涨29%,同比增长24%
  • 在持续运营基础上,每分别摊薄份额为0.82和1.09美元的摊薄份额
  • GAAP和非GAAP运营率分别为27.9%和33.0%
  • Q1的股东返回4.14亿美元,其中包括2.92亿美元的股票回购和1.22亿美元的现金股息支付

eBay Inc.(纳斯达克:eBay)是一个全球商务领导者,即在全球范围内连接数百万买家和卖家,今天报告了其第一季度的财务业绩于截至2021年3月31日。

"We delivered another strong quarter for the company and an excellent start to the year for our buyers and sellers. We generated tremendous volume and earnings, with revenue growth the highest it has been since 2005," said Jamie Iannone, Chief Executive Officer at eBay. "Last July, I laid out our vision for a Tech-led reimagination of eBay and our results prove this long-term strategy is working. While we have more work to do, we are confident we are on a path of continued growth in the years ahead."

第一季度金融亮点

  • 收入was $3.0 billion, up 42% on an as-reported basis and up 38% on a foreign exchange (FX) neutral basis.
  • Gross merchandise volume (GMV) was $27.5 billion, up 29% on an as-reported basis and up 24% on an FX-Neutral basis.
  • 通过持续运营的GAAP净收入was $569 million, or $0.82 per diluted share.
  • Non-GAAP net income from continuing operations was $758 million, or $1.09 per diluted share.
  • Generated $938 million of operating cash flow and $855 million of free cash flow from continuing operations.
  • 年度活跃买家增长了7%,共有18700万个全球活动买家。
  • Annual active sellers grew by 8%, for a total of 20 million global active sellers.(1)

Business Highlights

收入举措

  • eBay continues to scale its management of payments globally, with over 52% of global on-platform volume processed through managed payments during the quarter. The company exited Q1 with over 4 million sellers migrated globally and over 80% of the payments migration completed in the U.S. eBay also launched the new experience for sellers in France, Italy and Spain.
  • As a result of the managed payments migration, eBay simplified checkout flows and reduced unpaid items by approximately 80% on fixed price transactions during the quarter.
  • 提升上市了接近2.24亿美元of revenue in Q1, up 64% on an as-reported basis and up 58% on an FX-Neutral basis.

技术领导的平台恢复

  • 在Q1中,eBay在其核心类别中显着增长。在美国,运动鞋价值高于100美元的比例同比增长,又一次,奢侈品手表的增长从Q4的16%加速到Q1中的16%至38%。
  • Another core category eBay focused on during the quarter was Trading Cards. During Q1, in the U.S., GMV for Trading Cards was over $1 billion dollars and active buyers in the category doubled. The company also announced a new image listing tool for top-selling trading cards. The new tool leverages computer vision technology to scan the card, which streamlines listing creation and can reduce time to list by up to 75%.
  • eBay expanded its Certified Refurbished experience in the U.S. to over 150 brands, and launched Certified Refurbished in the U.K., Canada and Germany with more than 100 brands.
  • eBay凭借其承诺成为首选的合作伙伴,eBay推出了一种新的统一上市经验,可以在所有平台上提供凝聚力的设计,以简化上市流程并增强卖家福利。
  • eBay's ongoing SEO efforts, particularly in its core categories, added roughly one point of active buyer growth in Q1. Free traffic to browse pages continues to grow, and in sneakers eBay saw almost double the amount of traffic and close to triple the amount of new buyers coming to eBay through SEO.
  • 该公司为bob中文名卖家推出了一家商店预览功能,以便在出版之前查看店面,建立卖方信心并缓解到新经验的过渡。
  • eBay宣布了一个新的编码优惠券工具,供卖家为其买家创建自定义折扣代码,以便通过自己的营销渠道公开分享eBay.com或私下分享。卖家还可以打印他们的编码优惠券以包括运输的包装,帮助您从买家那里重复购买。
  • eBay launched Terapeak Sourcing Insights, a new tool that helps sellers with a qualifying stores subscription analyze trending categories, top products, and signals what inventory is most likely to sell.
  • The company simplified its shipping badges in the U.S. and Germany, providing buyers with a new, clean and concise view of shipping speed and cost.

影响

  • 公司推出bob中文名了第一Recommerce报告which revealed that, according to eBay's latest survey of its sellers, 87% of U.S. respondents say that they have sold pre-owned goods in 2020, and almost three-quarters of sellers surveyed began selling pre-owned goods last year for supplemental income.
  • In Q1, eBay announced a $25 million investment in the Clear Vision Impact Fund to bolster small and medium sized businesses that are based in, or support, underserved communities nationally.
  • eBay announced the recipients of its Up & Running Grants, a new program focused on ensuring today's small businesses are here tomorrow. Fifty sellers from across the U.S. have been selected to receive grant packages, inclusive of $10,000 in funding and education resources.
  • The company continued to support the U.K.'s National Health Service, delivering more than 2 billion PPE items to primary care workers in the U.K. utilizing eBay's technology.
  • The company published its first Task Force on Climate-Related Financial Disclosures (TCFD) report reinforcing its increased momentum toward climate transparency and action.
  • During the quarter, eBay raised over $35 million through eBay for Charity.
  • 该公司通bob中文名过eBay基金会增加员工匹配礼品限制,每年2,500美元至10,000美元。
  • The company also contributed to Asian Americans Advance Justice and supported employee giving during Black History Month and the Lunar New Year.

(1) All sellers who successfully closed a transaction on our platforms within the previous 12-month period. Sellers may register more than once, and as a result, may have more than one account.

第一季度2021 Financial Highlights (presented in millions, except per share data and percentages)


第一季度




2021

2020

改变

eBay Inc.





净收入

$ 3,023

$2,129

894美元

42%

GAAP - Continuing Operations





持续运营的收入(亏损)

569美元

$ 431.

138美元

32%

从持续行动中稀释份额的收益(亏损)

$0.82

$0.57

$0.25

44%

非GAAP - 持续运营





Net income

$758

$522

236美元

45%

收益per diluted share

$1.09

$0.69

$0.40

59%

其他选定的财务和业务结果

  • Operating margin – GAAP operating margin increased to 27.9% for the first quarter of 2021, compared to 26.5% for the same period last year. Non-GAAP operating margin increased to 33.0% in the first quarter of 2021, compared to 31.6% for the same period last year.
  • Taxes – The GAAP effective tax rate for continuing operations for the first quarter of 2021 was 21.5%, compared to 23.8% for the first quarter of 2020. The non-GAAP effective tax rate for continuing operations for the first quarter of 2021 was 17.3%, compared to 16.5% for the first quarter of 2020.
  • 现金流量 - 公司在第一季度持续bob中文名运营中,公司生产了9.38亿美元的经营现金流量和855万美元的自由现金流量。
  • Capital returns – The company repurchased approximately $292 million of its common stock, or more than 5 million shares, in the first quarter of 2021. The company's total repurchase authorization remaining as of March 31, 2021 was $5.7 billion. The company also paid cash dividends of $122 million during the first quarter of 2021.
  • 现金及现金等价物and non-equity investments – The company's cash and cash equivalents and non-equity investments portfolio totaled $3.9 billion as of March 31, 2021.

Business Outlook

eBay is providing the following guidance for continuing operations for Q2 2021.

在数十亿中,除了每股数据和百分比

Q2 2021 Guidance

收入

$ 2.98 - $ 3.03

Organic FX-Neutral Y/Y Growth

8 - 10%



Diluted GAAP EPS

$0.67 - $0.72



Diluted Non-GAAP EPS

$0.91 - $0.96

Dividend Declaration

  • eBay's Board of Directors has declared a cash dividend of $0.18 per share of the company's common stock. The dividend is payable on June 18, 2021 to stockholders of record as of June 1, 2021.

Quarterly Conference Call and Webcast

eBay Inc.将在下午3:00举办一次电话会议,讨论第一季度2021年结果。今天太平洋时间。bob手机体育下载投资者和参与者可以通过在国际上拨打(833)350-1438来通过拨打(833)350-1438来访问呼叫。会议线的密码为9274635.会议呼叫的实时网络广播,以及幻灯片演示文稿,其中包括对其最接近的可比性GAAP措施的补充财务信息和某些非GAAP措施的对账,可以通过公司的投资者关系访问bob中文名网站at.https://bob手机体育下载investors.ebayinc.com.。此外,通过相同的链接将至少三个月访问网络广播的存档。

eBay Inc. uses its Investor Relations website athttps://bob手机体育下载investors.ebayinc.com.as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor this website, in addition to following our press releases, SEC filings, public conference calls and webcasts.

关于eBay

eBay公司(纳斯达克:eBay Inc .)是一个全球贸易领先er that connects millions of buyers and sellers in 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2020, eBay enabled $100 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visitwww.yingchengsuccess.com.

Presentation

All growth rates represent year-over-year comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest million, except as otherwise noted. As a result, certain amounts may not sum or recalculate using the rounded dollar amounts provided. References to "revenue" refer to "net revenues" as reported in the company's consolidated statement of income.

非GAAP财务措施

This press release includes the following financial measures defined as "non-GAAP financial measures" by the Securities and Exchange Commission (SEC): non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin, non-GAAP effective tax rate, free cash flow and FX-Neutral basis. These non-GAAP financial measures are presented on a continuing operations basis. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with generally accepted accounting principles (GAAP). For a reconciliation of these non-GAAP financial measures, except for figures in this press release presented on an "FX-Neutral basis", to the nearest comparable GAAP measures, see "Business Outlook," "Non-GAAP Measures of Financial Performance," "Reconciliation of GAAP Operating Margin to Non-GAAP Operating Margin," "Reconciliation of GAAP Net Income to Non-GAAP Net Income and Reconciliation of GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate" and "Reconciliation of Operating Cash Flow to Free Cash Flow" included in this press release. For figures in this press release reported "on an FX-Neutral basis", we calculate the year-over-year impact of foreign currency movements using prior period foreign currency rates applied to current year transactional currency amounts. We define Organic FX-Neutral revenue growth as reported revenue growth, excluding incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions and foreign exchange rate effects.

Forward-Looking Statements

本新闻稿包含与其他事项,eBay Inc.未来表现的前瞻性陈述及其综合子公司以本公司目前的预期,预测和假设涉及风险和不确定性。bob中文名这些陈述包括但不限于关于eBay Inc.未来表现的陈述及其综合子公司,包括管理层对eBay未来的愿景以及我们完成愿景的能力,预计第二季度的财务业绩和全年的财务业绩2021年和未来业务的增长,Covid-19对我们的业务和运营的影响以及我们应对此类影响,营业效率和利润率,再投资,股息,股票回购以及与Adevinta宣布交易的关闭的能力ASA(“交易”),交易的潜在利益以及交易对未来结果的影响。实际结果可能与预测或暗示的结果不同,报告的结果不应被视为未来表现的指示。可能导致或有助于这种差异的其他因素包括但不限于:政治,商业和经济状况的变化,Covid-19大流行的持续时间和Covid-19对我们的业务和运营的影响以及一般经济,包括对销售商和客户的影响,任何区域或一般经济衰退或危机以及影响电子商务成长或跨境贸易的任何条件;公司能够bob中文名实现预期增长机会的付款中介和广告;外汇汇率的波动;该公司需bob中文名要成功地对移动商务的越来越重要的越来越重要以及商业社会方面的增加; an increasingly competitive environment for its business; changes to the company's capital allocation, including the timing, declaration, amount and payment of any future dividends or levels of the company's share repurchases, or management of operating cash; the company's ability to increase operating efficiency to drive margin improvements and enable reinvestments; the company's ability to manage its indebtedness, including managing exposure to interest rates and maintaining its credit ratings; the company's need to manage a large enterprise with a broad range of businesses of varying degrees of maturity and in many different geographies; the ability to successfully intermediate payments on our marketplace platform; the company's need and ability to manage regulatory, tax, data security and litigation risks; the company's ability to timely upgrade and develop its technology systems, infrastructure and customer service capabilities at reasonable cost while maintaining site stability and performance and adding new products and features; the company's ability to integrate, manage and grow businesses that have been acquired or may be acquired in the future; the possibility that regulatory and other approvals and conditions to the Transaction are not received or satisfied on a timely basis or at all; the possibility that eBay may not fully realize the projected benefits of the Transaction; changes in the anticipated timing for closing the Transaction; business disruption during the pendency of or following the Transaction; diversion of management time on Transaction-related issues; the reaction of customers and other persons to the Transaction; and other events that could adversely impact the completion of the Transaction, including COVID-19 and industry or economic conditions outside of our control.

The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.

有关可能影响公司的经营结果的因素的更多信息包括在“危险因素”和“管理人员讨论和分析的财务状况和业务结果分析bob中文名”中,在该公司的最新年度报告10-K和随后的季度报告中在形式10-Q,可以通过访问公司的投资者关系网站获得的副本bob中文名https://bob手机体育下载investors.ebayinc.com.or the SEC's website atwww.sec.gov。不应依赖于本新闻稿中的前瞻性陈述,这是根据本公司在此日期提供的信息。bob中文名该公司不bob中文名义务更新此类陈述。

eBay Inc.

Unaudited Condensed Consolidated Balance Sheet



March 31,
2021


December 31,
2020


(In millions)



ASSETS




Current assets:




现金及现金等价物

$

1,667



$

1,428


Short-term investments

1,700.



2,398


应收账款,扣除可疑账款股价为86美元和97美元

348



412


Customer accounts and funds receivable

1,016



93.9


Other current assets

789



825


目前的资产待售

1,171



1,188


Total current assets

6,691



7,190


Long-term investments

1,059



833


Property and equipment, net

1,321



1,358


Goodwill

4,591



4,675


Intangible assets, net

5



12


经营租赁使用权资产

477



509


Deferred tax assets

3,448



3,537


Warrant asset

1,015



1,051


Other assets

124



145


总资产

$

18,731



$

19,310


LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Short-term debt

$

1,172



$

18


应付账款

324



332


Customer accounts and funds payable

1,073



1,052


Accrued expenses and other current liabilities

1,849



1,858


Deferred revenue

114



110


应付所得税

135



180.


Current liabilities held for sale

463



452


Total current liabilities

5,130



4,002


经营租赁负债

344



380


Deferred tax liabilities

2,381



2,359


Long-term debt

5,855



7,745


其他责任

1,251



1,263


Total liabilities

14,961



15,749






Total stockholders' equity

3,770.



3,561


总负债和股东权益

$

18,731



$

19,310


eBay Inc.

Unaudited Condensed Consolidated Statement of Income




Three Months Ended
March 31,



2021


2020


(数百万,除非每股金额)

净收入


$

3,023



$

2,129


Cost of net revenues(1)


823



502


Gross profit


2,200



1,627


Operating expenses:





销售和营销(1)


687



520


Product development(1)


318



232


一般和行政(1)


258



207


Provision for transaction losses


88.



96.


获得无形资产的摊销


7



7


Total operating expenses


1,358



1,062


业务收入


842



565


Interest and other, net


(117)



1


Income from continuing operations before income taxes


72.5



566


所得税准备


(156)



(135)


Income from continuing operations


$

569



$

431


Income from discontinued operations, net of income taxes


72.



2,981


Net income


$

641



$

3,412







Income per share - basic:





Continuing operations


$

0.84



$

0.57


Discontinued operations


0.10



3.96


Net income per share - basic


$

0.94



$

4.53







每股收入 - 稀释:





Continuing operations


$

0.82



$

0.57


Discontinued operations


0.10



3.94


Net income per share - diluted


$

0.92



$

4.51







Weighted average shares:





基本的


681



753


Diluted


693



757







(1)包括基于股票的补偿,如下所示:





Cost of net revenues


$

10



$

10


销售和营销


22



16


Product development


43



36


一般和行政


31



30




$

106



$

92.


eBay Inc.

未经审核的综合综合现金流量陈述




Three Months Ended
March 31,



2021


2020


(In millions)

经营活动中的现金流量:





Net income


$

641



$

3,412


(Income) loss from discontinued operations, net of income taxes


(72)



(2,981)


Adjustments:





Provision for transaction losses


88.



96.


Depreciation and amortization


140



141


Stock-based compensation


106



92.


(收益)投资损失,网


(1)



(38)


Deferred income taxes


95.



49


改变in fair value of warrant


36



(12)


(Gain) loss on extinguishment of debt


10




资产和负债的变化,收购效应净额


(105)



(145)


Net cash provided by continuing operating activities


93.8



614


Net cash provided by (used in) discontinued operating activities


104



(22)


Net cash provided by operating activities


1,042



592


Cash flows from investing activities:





Purchases of property and equipment


(83)



(97)


Purchases of investments


(3,424)



(10,705)


Maturities and sales of investments


3,772



9,195


Other


1



39


由(用于)继续投资活动提供的净现金


266



(1,568)


Net cash provided by (used in) discontinued investing activities


(1)



4,074


投资活动提供的净现金


265



2,506


Cash flows from financing activities:





Proceeds from issuance of common stock




5


回购普通股票


(304)



(3,997)


与受限制股单位和奖项的净分享结算有关的税款付款


(20)



(40)


Payments for dividends


(122)



(114)


Proceeds from issuance of long-term debt, net




994


偿还债务


(1,156)




Net borrowings under commercial paper program


400




Net funds receivable and payable activity


32




Other


1



(7)


Net cash used in continuing financing activities


(1,169)



(3,159)


Net cash provided by (used in) discontinued financing activities




(2)


用于融资活动的净现金


(1,169)



(3,161)


Effect of exchange rate changes on cash, cash equivalents and restricted cash


(11)



(34)


Net increase (decrease) in cash, cash equivalents and restricted cash


127



(97)


Cash, cash equivalents and restricted cash at beginning of period


1,594



996


Cash, cash equivalents and restricted cash at end of period


1,721



899


较少:现金和现金等价物和持有销售业务的限制现金


31



16


Cash, cash equivalents and restricted cash of continuing operations at end of period


$

1,690



$

88.3


eBay Inc.

未经审核的净收入摘要



Three Months Ended


March 31,
2021


December 31,
2020


September 30,
2020


June 30,
2020


March 31,
2020


(In millions, except percentages)

按类型的净收入:




















Net transaction revenues(1)

$

2,732



$

2,598



$

2,355



$

2,447



$

1,900


Current quarter vs prior year quarter

44

%


31

%


29

%


30

%


1

%

Percent from international

57

%


60.

%


59

%


60.

%


62.

%











Marketing services and other revenues

291.



270



251



221



229


Current quarter vs prior year quarter

27

%


5

%


(1)

%


(18)

%


(17)

%

Percent from international

58

%


55

%


55

%


50

%


52

%











Total net revenues(2)

$

3,023



$

2,868



$

2,606



$

2,668



$

2,129


Current quarter vs prior year quarter

42

%


28

%


25

%


24

%


(1)

%











(1)对冲增益/(亏损)

$

(28)



$

(8)



$

6



$

17



$


(2)外币影响

$

80



$

45



$

31



$

(40)



$

(35)


eBay Inc.

Unaudited Supplemental Operating Data



Three Months Ended


March 31,
2021


December 31,
2020


September 30,
2020


June 30,
2020


March 31,
2020


(In millions, except percentages)

Active Buyers(1)

187.



185.



183.



182.



174.


Current quarter vs prior year quarter

7

%


7

%


5

%


5

%


2

%











Gross Merchandise Volume(2)










U.S.

$

10,393



$

9,624



$

9,790



$

10,489



$

7,631


Current quarter vs prior year quarter

36

%


25

%


33

%


35

%


(4)

%

International

$

17,067



$

16,934



$

15,259



$

16,646



$

13,628


Current quarter vs prior year quarter

25

%


19

%


16

%


22

%


%

Total GMV

$

27,460



$

26,558



$

25,049.



$

27,135



$

21,259


Current quarter vs prior year quarter

29

%


21

%


22

%


26

%


(1)

%



(1)

所有买家在前12个月内成功关闭了我们的平台上的交易。买家可以注册不止一次,因此可能有多个帐户。

(2)

Total value of all successfully closed transactions between users on our platforms during the period regardless of whether the buyer and seller actually consummated the transaction. We believe that GMV provides a useful measure of the overall volume of closed transactions that flow through our platform in a given period, notwithstanding the inclusion in GMV of closed transactions that are not ultimately consummated.

eBay Inc.
Business Outlook

下面的指导数据提供和其他地方in this press release are forward-looking statements, reflect a number of estimates, assumptions and other uncertainties, and are approximate in nature because the company's future performance is difficult to predict. Revenue guidance is provided on an FX-Neutral basis and excludes incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions. Such guidance is based on information available on the date of this press release, and the company assumes no obligation to update it.

The company's future performance involves risks and uncertainties, and the company's actual results could differ materially from the information below and elsewhere in this press release. Some of the factors that could affect the company's operating results are set forth under the caption "Forward-Looking Statements" above in this press release. More information about factors that could affect the company's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting eBay's investor relations website athttps://bob手机体育下载investors.ebayinc.com.or the SEC's website atwww.sec.gov

eBay Inc.


Three Months Ending


June 30, 2021

(数十亿,除了每股金额)

GAAP


Non-GAAP(a)

净收入

$ 2.98 - $ 3.03


$ 2.98 - $ 3.03

Diluted EPS from continuing operations

$0.67 - $0.72


$0.91 - $0.96





(a) Estimated non-GAAP amounts above for the three months ending June 30, 2021 reflect adjustments that exclude the estimated stock-based compensation expense and associated employer payroll tax expense of approximately $140 - $150 million and an adjustment that excludes the net deferred tax impact related to the step-up in the tax basis of intangible assets of approximately $45 - $55 million.

eBay Inc.
Non-GAAP Measures of Financial Performance

To supplement the company's condensed consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin, non-GAAP effective tax rate, free cash flow and figures in this press release presented on an "FX-Neutral basis". These non-GAAP financial measures are presented on a continuing operations basis.

这些非一般公认会计准则的措施并不符合, or an alternative to, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the company's results of operations as determined in accordance with GAAP. These measures should only be used to evaluate the company's results of operations in conjunction with the corresponding GAAP measures.

Reconciliation to the nearest GAAP measure of all non-GAAP measures included in this press release, except for figures in this press release presented on an "FX-Neutral basis", can be found in the tables included in this press release. For figures in this press release reported "on an FX-Neutral basis", the company calculates the year-over-year impact of foreign currency movements using prior period foreign currency rates applied to current year transactional currency amounts. The company defines organic FX-Neutral revenue growth as reported revenue growth, excluding incremental revenue from acquisitions or dispositions for the twelve-month period following such acquisitions or dispositions and foreign exchange rate effects.

提供了这些非GAAP措施,以提高投资者对本公司目前的财务业绩及其未来前景的整体理解。bob手机体育下载bob中文名具体来说,本公司认为,由于某些费用,bob中文名收益和损失或物业和设备的净购物,因此,本案例可能不会指示其核心运营可能并未指示其核心运营,为管理层和投资者提供有用的信息bob手机体育下载结果和业务前景。此外,由于公司历史上报道了某些非GAAP结果投资者bob中文名,本公司认为包含非GAAP措施提供了本公司财务报告的一致性。bob手机体育下载

For its internal budgeting process, and as discussed further below, the company's management uses financial measures that do not include stock-based compensation expense, employer payroll taxes on stock-based compensation, amortization or impairment of acquired intangible assets, impairment of goodwill, amortization of deferred tax assets associated with the realignment of its legal structure and related foreign exchange effects, significant gains or losses from the disposal/acquisition of a business, certain gains and losses on investments, gains or losses associated with a warrant agreement that the company entered into with Adyen, restructuring-related charges and the income taxes associated with the foregoing. In addition to the corresponding GAAP measures, the company's management also uses the foregoing non-GAAP measures in reviewing the financial results of the company.

该公司不bob中文名包括非GAAP净收入,非GAAP盈利每次摊薄股票,非GAAP运营保证金和非GAAP有效税率:

基于股票的薪酬费用及相关雇主工资税。This expense consists of expenses for stock options, restricted stock and employee stock purchases. The company excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash expenses that management does not believe are reflective of ongoing operating results. The related employer payroll taxes are dependent on the company's stock price and the vesting of restricted stock by employees and the timing and size of stock option exercises, over which management has limited to no control, and as such management does not believe it correlates to the company's operation of the business.

获得无形资产的摊销或损害,善意损害,延期税收资产的某些摊销以及相关的外汇影响,收购或出售业务和某些收益或投资损失的损益和交易费用。The company incurs amortization or impairment of acquired intangible assets and goodwill in connection with acquisitions and may incur significant gains or losses from the acquisition or disposal of a business and therefore excludes these amounts from its non-GAAP measures. The company also excludes certain gains and losses on investments. The company excludes the non-cash amortization of deferred tax assets associated with the realignment of its legal structure, which is not reduced by the effects of the Tax Cuts and Jobs Act, and related foreign exchange effects. The company excludes these items because management does not believe they correlate to the ongoing operating results of the company's business.

重组。These charges consist of expenses for employee severance and other exit and disposal costs. The company excludes significant restructuring charges primarily because management does not believe they are reflective of ongoing operating results.

其他一些显着的收益,损失或指控不指示公司的核心运营结果。bob中文名These are significant gains, losses, or charges during a period that are the result of isolated events or transactions which have not occurred frequently in the past and are not expected to occur regularly or be repeated in the future. The company excludes these amounts from its results primarily because management does not believe they are indicative of its current or ongoing operating results.

改变in fair market value of warrant.These are gains or losses associated with a warrant agreement that the company entered into with Adyen, which are attributable to changes in fair value during the period.

Tax effect of non-GAAP adjustments.This amount is used to present stock-based compensation and the other amounts described above on an after-tax basis consistent with the presentation of non-GAAP net income.

In addition to the non-GAAP measures discussed above, the company also uses free cash flow. Free cash flow represents operating cash flows less purchases of property and equipment. The company considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property, buildings, and equipment, which can then be used to, among other things, invest in the company's business, make strategic acquisitions, repurchase stock and pay dividends. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in the company's cash balance for the period.

eBay Inc.

Reconciliation of GAAP Operating Margin to Non-GAAP Operating Margin




Three Months Ended
March 31,



2021


2020


(In millions, except percentages)

GAAP营业收入


$

842



$

565


基于股票的薪酬费用及相关雇主工资税


107



93.


在净收入的成本内获得获得的无形资产的摊销




1


获得无形资产的摊销within operating expenses


7



7


Other significant gains, losses or charges


41



7


Total non-GAAP operating income adjustments


155



108


非GAAP营业收入


$

997



$

673


Non-GAAP operating margin


33.0

%


31.6

%

GAAP净收入与非GAAP净收入的和解和

GAAP有效税率为非GAAP有效税率*




Three Months Ended
March 31,



2021


2020


(数百万,除了每股金额和
百分比)

GAAP income from continuing operations before income taxes


$

72.5



$

566


GAAP provision for income taxes


(156)



(135)


通过持续运营的GAAP净收入


$

569



$

431


Non-GAAP adjustments to net income from continuing operations:





非GAAP营业收入from continuing operations adjustments (see table above)


155



108


(Gain) loss on investments and sale of business




(37)


改变in fair market value of warrant


36



(12)


Tax effect of non-GAAP adjustments


(2)



32


Non-GAAP net income from continuing operations


$

758



$

522







Diluted net income from continuing operations per share:





GAAP


$

0.82



$

0.57


Non-GAAP


$

1.09



$

0.69


用于GAAP和非GAAP摊薄净收入的股票每股计算


693



757







GAAP effective tax rate - Continuing operations


21.5

%


23.8

%

非GAAP调整对持续行动净收入的税收效应


(4.2)

%


(7.3)

%

Non-GAAP effective tax rate - Continuing operations


17.3

%


16.5

%


*在持续的运营基础上提出

Reconciliation of Operating Cash Flow to Free Cash Flow*




Three Months Ended
March 31,



2021


2020


(In millions)

Net cash provided by continuing operating activities


$

93.8



$

614


较少:购买物业和设备


(83)



(97)


Free cash flow


$

855



$

517



*在持续的运营基础上提出

eBay Inc.
Investor Relations Contact:
Joe Billante
ir@ebay.com

Media Relations Contact:
Trina Somera
press@ebay.com

Company News:
bob app下载

投资者关系网站:
https://bob手机体育下载investors.ebayinc.com.