Here it is:=====eBay Inc. Announces First Quarter 2000 Financial Results eBay Reported a Record $1.15 Billion in Gross Merchandise Sales In the Quarter, Surpassing the $1 Billion Mark for the First Time eBay Board of Directors Approves 2-for-1 Common Stock Split PR Newswire SAN JOSE, Calif., Apr 25, 2000 /PRNewswire via COMTEX/ -- eBay Inc. ((Nasdaq:EBAY); www.ebay.com), the world's largest online personal trading community,today reported financial results for its first quarter ended March 31, 2000.(Photo: http://www.newscom.com/cgi-bin/prnh/19990423/EBAYLOGO )The Company generated consolidated net revenues of $85.8 million in the firstquarter of 2000, a 100 percent increase over the $42.8 million reported for thesame period last year. Consolidated net income for the quarter was $6.3 million,or $0.05 per share on a diluted basis. eBay's consolidated net income excludingthe effects of certain non-cash and stock-related charges was $8.0 million, or$0.06 per diluted share, compared with $4.8 million, or $0.04 per diluted shareduring the first quarter of 1999."In the first quarter of 2000, eBay achieved unprecedented financial andoperational success," said Meg Whitman, President and CEO of eBay. "The Companyis firing on all cylinders as it expands to become a truly global tradingplatform." Key operating metrics and execution highlights:-- Online Net Revenues - eBay's online net revenues reached $77.3 million, a 127percent increase over the $34.0 million in the first quarter of 1999.-- Gross Merchandise Sales - eBay achieved $1.15 billion in gross merchandisesales (the value of goods traded on the eBay site), surpassing the $1 billionmark for the first time and realizing a 113 percent increase over the firstquarter of 1999.-- Registered Users - eBay expanded the number of registered users to 12.6million by quarter end, an increase of 230 percent from 3.8 million on March 31,1999. Moreover, the Company added a record 2.6 million new users in the quarter,more than in any other quarter in the Company's history.-- Auctions Hosted - eBay hosted 53.6 million auctions during the first quarter,compared to 22.9 million during the same period last year. This representsyear-over-year growth of 133 percent.-- Announced a joint venture with Autotrader.com that is intended to create theInternet's largest auction-style marketplace for consumers and dealers to buyand sell used cars. ( http://pages.ebay.com/auto-index.html )-- Announced a strategic alliance between Billpoint and Wells Fargo & Company tocombine eBay's trading volume with Wells Fargo's payments expertise. (http://www.ebay.com/help/buyerguide/bp-overview.html )-- Announced a comprehensive four-year agreement between eBay and Go.com, asubsidiary of The Walt Disney Company, to develop and promote online trading onall of Disney's Internet properties.-- Launched eBay Japan through a joint venture agreement with NEC and itsBIGLOBE internet service provider. ( http://pages.ebay.com/jpbridge.html )-- Fully integrated Billpoint into eBay payment services, giving users the easeand convenience of paying online.-- Initiated listings fees for eBay Germany. ( http://www.ebay.de )-- Grew revenue from Regional categories 2.5 times faster than the overall site.( http://pages.ebay.com/search/items/search.html )-- Launched eBay Business Exchange to serve the small business-to-businesssegment. ( http://pages.ebay.com/business_exchange/ )Financial and operating summary:The primary contributor to the increase in the Company's net revenues for thequarter was on-line auction activity. As expected, net revenues from eBay'straditional off-line auction subsidiaries decreased seasonally from the priorquarter.In the first quarter, the Company continued to make significant investments inpeople, customer support, and equipment to support the site's infrastructure.Personnel costs were the largest single driver of expense growth. Both productdevelopment and general and administrative costs increased due to personneladditions and depreciation and amortization expense. General and administrativecosts were impacted by increases in personnel and legal costs. Sales andmarketing expenses also increased over the prior quarter as the Company investedin additional on-line advertising.For the first quarter, eBay recorded consolidated non-cash amortization chargesof $1.1 million related to stock-based compensation and $275,000 associated withacquired intangibles. The Company also recorded charges of $901,000 associatedwith payroll taxes on the exercise of employee stock options. In addition, as aresult of an accounting policy change relating to the recognition of listingfees, eBay had a one-time negative impact to online revenues of $1.4 million.eBay recorded a consolidated tax provision of $4.6 million representing aneffective tax rate of 42 percent of first quarter consolidated pretax income.The Company's overall balance sheet continued to improve during the firstquarter of 2000. Consolidated assets increased $72.0 million over the fourthquarter of 1999, primarily driven by increases of $44.8 million in cash andinvestments, $13.5 million in net fixed assets, and eBay's positive cash flow.In other balance sheet activity, as part of the strategic alliance between WellsFargo and Billpoint, Wells Fargo purchased a 35 percent equity interest inBillpoint from eBay. In addition, as part of the joint venture between NEC andeBay, NEC took a 30 percent equity interest in eBay Japan.In addition, the Board of Directors of eBay has approved a 2-for-1 Common Stocksplit for shares of record as of May 9, 2000. The split will be effective on May24, 2000.=====I'm getting ready to listen to the cc.http://www.vcall.com/NASApp/VCall/EventPage?ID=11272Amy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat