eBay doubles 2Q earnings in '07

SAN JOSE, Calif. eBay Inc. today reported net revenues of $1.83 billion for its second quarter ended June 30, representing a growth rate of 30% year-over-year. GAAP operating income was $457 million, an increase of 47% year-over-year, and represented 24.9% of net revenues. Non-GAAP operating income was $595 million, an increase of 29% year over year, and represented 32.4% of net revenues.

GAAP net income in the second quarter increased 50% year-over-year to $376 million, or 27 cents earnings per diluted share. Non-GAAP net income increased 34% year over year to $471 million, or 34 cents earnings per diluted share. GAAP and non-GAAP earnings per diluted share increased 57% and 40% year-over-year, respectively.

"The quarter was a very good one for the company, as our portfolio of businesses continued to deliver value to our global community," said eBay president and ceo, Meg Whitman. "Providing a great user experience has always been critical to our success and will remain part of our ongoing focus as we expand the business further."

eBay expects consolidated net revenues for the third quarter 2007 to be in the range of $1.775 billion to $1.825 billion. Non-GAAP earnings per diluted share for the quarter are expected to be in the range of 31 cents to 33 cents.

eBay now expects consolidated net revenues for 2007 to be in the range of $7.3 billion to $7.45 billion. Non-GAAP operating margin for 2007 is expected to be approximately 33%. Non-GAAP earnings per diluted share for 2007 are now expected to be in the range of $1.34 to $1.38.