eBay 2008 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2008 eBay annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

eBay Inc.
CONSOLIDATED STATEMENT OF INCOME
2006 2007 2008
Year Ended December 31,
(in thousands, except per share amounts)
Net revenues ......................................... $5,969,741 $7,672,329 $8,541,261
Cost of net revenues .................................... 1,256,792 1,762,972 2,228,069
Gross profit ........................................ 4,712,949 5,909,357 6,313,192
Operating expenses:
Salesandmarketing .................................. 1,587,133 1,882,810 1,881,551
Product development .................................. 494,695 619,727 725,600
General and administrative ............................. 744,363 904,681 998,871
Provision for transaction and loan losses ................... 266,724 293,917 347,453
Amortization of acquired intangible assets .................. 197,078 204,104 234,916
Restructuring ....................................... — — 49,119
Impairment of goodwill................................ — 1,390,938 —
Total operating expenses ............................. 3,289,993 5,296,177 4,237,510
Income from operations ................................. 1,422,956 613,180 2,075,682
Interest and other income, net ............................. 130,017 154,271 115,919
Interest expense ....................................... (5,916) (16,600) (8,037)
Income before income taxes .............................. 1,547,057 750,851 2,183,564
Provision for income taxes ............................... (421,418) (402,600) (404,090)
Net income .......................................... $1,125,639 $ 348,251 $1,779,474
Net income per share:
Basic ............................................. $ 0.80 $ 0.26 $ 1.37
Diluted............................................ $ 0.79 $ 0.25 $ 1.36
Weighted average shares:
Basic ............................................. 1,399,251 1,358,797 1,303,454
Diluted............................................ 1,425,472 1,376,174 1,312,608
The accompanying notes are an integral part of these consolidated financial statements.
77