eBay 2001 Revenue Rises 74% to $748.8M

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EBay Inc.'s net revenue for 2001 rose 74 percent to $748.8 million, from $431.4 million a year earlier, the company said yesterday.

Revenue for the fourth quarter ended Dec. 31 rose 64 percent to $219.4 million, from $134 million in fourth-quarter 2000. Online net revenue for the fourth quarter was $211.6 million, up 72 percent from the $123.1 million posted in fourth-quarter 2000.

EBay said that net revenue for its international operations contributed 18 percent of the fourth quarter's income, up from 16 percent in the third quarter. Its German operation saw 51 percent growth in the quarter, its Canadian operation posted 26 percent growth quarter-to-quarter and its UK operations saw 25 percent growth.

The company said that its net income for the year rose to $90.4 million, or 34 cents per share, from $48.2 million, or 19 cents per share, a year ago. For the fourth quarter, eBay's net income rose to $25.9 million, or 9 cents per share, from $23.8 million, or about 9 cents per share.

EBay said it hosted 126.5 million listings in the fourth quarter, up 59 percent from the same quarter a year ago. In the quarter, the company added 4.8 million users and ended with 42.4 million registered users, up 88 percent from 2000.

The company also said that based on its 2001 performance, it expects revenue for the first half of 2002 to be $490 million to $510 million. Pro forma earnings per share are expected to be 32 cents to 33 cents in the first half of the year.

EBay expects first-quarter 2002 revenue to be driven by transactions both in the U.S. and the international markets. However, eBay expects advertising revenue to be down in the first quarter as a percentage of its net revenue.


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