eBay 2011 Annual Report Download - page 92

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eBay Inc.
CONSOLIDATED STATEMENT OF INCOME
The accompanying notes are an integral part of these consolidated financial statements.
F-3
Year Ended December 31,
2011
2010
2009
(In thousands, except per share amounts)
Net revenues
$
11,651,654
$
9,156,274
$
8,727,362
Cost of net revenues
3,460,184
2,564,667
2,479,762
Gross profit
8,191,470
6,591,607
6,247,600
Operating expenses:
Sales and marketing
2,435,048
1,946,815
1,885,677
Product development
1,235,171
908,434
803,070
General and administrative
1,364,221
1,079,383
1,418,389
Provision for transaction and loan losses
516,656
392,240
382,825
Amortization of acquired intangible assets
267,374
189,727
262,686
Restructuring
(489
)
21,437
38,187
Total operating expenses
5,817,981
4,538,036
4,790,834
Income from operations
2,373,489
2,053,571
1,456,766
Interest and other, net
1,536,557
44,876
1,422,385
Income before income taxes
3,910,046
2,098,447
2,879,151
Provision for income taxes
(680,659
)
(297,486
)
(490,054
)
Net income
$
3,229,387
$
1,800,961
$
2,389,097
Net income per share:
Basic
$
2.50
$
1.38
$
1.85
Diluted
$
2.46
$
1.36
$
1.83
Weighted average shares:
Basic
1,292,775
1,305,593
1,289,848
Diluted
1,312,950
1,327,417
1,304,981