For the fourth quarter ended December 31, eBay Inc. posted GAAP income from continuing operations of $523 million versus $729 million in the 2014 period. Earnings per diluted share were 43 cents versus 59 cents in last year’s quarter.
The company beat a Zacks Investment Research analyst average estimate by three cents.
Adjusted earnings per share were $600 million, or 50 cents per diluted share, versus $685 million, or 55 cents per diluted share, in the prior-year quarter.
Gross merchandise volume was $21.9 billion, up 5% on a foreign exchange rate neutral basis, the company indicated. The metric was flat year over year on an as-reported basis, reflecting the impact of a strong U.S. dollar.
Revenue for the quarter was $2.32 billion, up 5% on a foreign exchange rate neutral basis and flat versus the 2014 period, the company stated. In the quarter, the company generated $1.1 billion of operating cash flow from continuing operations, the company added, and $1 billion of free cash flow from continuing operations.
In the quarter, eBay Marketplace platform recorded $20.7 billion of gross market volume, the company maintained, resulting in $1.9 billion in revenue, up 1% on a foreign exchange rate basis and down 3% on an as-reported basis.
For the full year, eBay reported net income of $2.23 billion versus $2.39 billion in the year earlier. Earnings per diluted share were $1.83 compared to $1.89 in the 2014 period. Total gross market volume was $82 billion, up 5% on a foreign exchange rate neutral basis, and down 1% on an as-reported basis. Revenue was $8.59 billion, up 5% on a foreign exchange rate neutral basis and down 2% on an as-reported basis.
“We delivered solid fourth quarter results and continued to make progress against our key priorities,” said Devin Wenig, eBay president and CEO. “The quarter also marked the end of an extraordinary year during which we completed the spin-off of PayPal. We continue to grow our business and customer base while executing our plan to reposition eBay for long-term success.”