Company Quick10K Filing
eBay
Price38.37 EPS2
Shares870 P/E17
MCap33,382 P/FCF14
Net Debt6,841 EBIT2,350
TEV40,223 TEV/EBIT17
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-29
10-Q 2020-03-31 Filed 2020-04-30
10-K 2019-12-31 Filed 2020-01-31
10-Q 2019-09-30 Filed 2019-10-25
10-Q 2019-06-30 Filed 2019-07-18
10-Q 2019-03-31 Filed 2019-04-24
10-K 2018-12-31 Filed 2019-01-30
10-Q 2018-09-30 Filed 2018-10-31
10-Q 2018-06-30 Filed 2018-07-19
10-Q 2018-03-31 Filed 2018-04-26
10-K 2017-12-31 Filed 2018-02-05
10-Q 2017-09-30 Filed 2017-10-20
10-Q 2017-06-30 Filed 2017-07-21
10-Q 2017-03-31 Filed 2017-04-20
10-K 2016-12-31 Filed 2017-02-06
10-Q 2016-09-30 Filed 2016-10-20
10-Q 2016-06-30 Filed 2016-07-21
10-Q 2016-03-31 Filed 2016-04-27
10-K 2015-12-31 Filed 2016-02-01
10-Q 2015-09-30 Filed 2015-10-28
10-Q 2015-06-30 Filed 2015-07-21
10-Q 2015-03-31 Filed 2015-04-23
10-K 2014-12-31 Filed 2015-02-06
10-Q 2014-09-30 Filed 2014-10-16
10-Q 2014-06-30 Filed 2014-07-18
10-Q 2014-03-31 Filed 2014-05-01
10-K 2013-12-31 Filed 2014-01-31
10-Q 2013-09-30 Filed 2013-10-18
10-Q 2013-06-30 Filed 2013-07-19
10-Q 2013-03-31 Filed 2013-04-19
10-K 2012-12-31 Filed 2013-02-01
10-Q 2012-09-30 Filed 2012-10-19
10-Q 2012-06-30 Filed 2012-07-19
10-Q 2012-03-31 Filed 2012-04-20
10-K 2011-12-31 Filed 2012-01-31
10-Q 2011-09-30 Filed 2011-10-21
10-Q 2011-06-30 Filed 2011-07-22
10-Q 2011-03-31 Filed 2011-04-29
10-K 2010-12-31 Filed 2011-01-28
10-Q 2010-09-30 Filed 2010-10-21
10-Q 2010-06-30 Filed 2010-07-23
10-Q 2010-03-31 Filed 2010-04-28
10-K 2009-12-31 Filed 2010-02-17
8-K 2020-07-28 Earnings, Exhibits
8-K 2020-07-20 Enter Agreement, Exhibits
8-K 2020-07-20 Regulation FD, Exhibits
8-K 2020-07-01 Officers, Exhibits
8-K 2020-06-29 Shareholder Vote, Exhibits
8-K 2020-06-22
8-K 2020-06-15
8-K 2020-06-04
8-K 2020-04-29
8-K 2020-04-11
8-K 2020-04-08
8-K 2020-03-06
8-K 2020-02-13
8-K 2020-02-13
8-K 2020-01-28
8-K 2019-11-24
8-K 2019-10-23
8-K 2019-10-11
8-K 2019-09-24
8-K 2019-07-17
8-K 2019-05-30
8-K 2019-05-14
8-K 2019-04-23
8-K 2019-02-28
8-K 2019-02-14
8-K 2019-01-29
8-K 2018-10-30
8-K 2018-07-18
8-K 2018-06-13
8-K 2018-05-30
8-K 2018-05-14
8-K 2018-04-25
8-K 2018-04-05
8-K 2018-01-31

EBAY 10Q Quarterly Report

Part I: Financial Information
Item 1: Financial Statements
Note 1 - The Company and Summary of Significant Accounting Policies
Note 2 - Net Income per Share
Note 3 - Business Combinations
Note 5 - Goodwill and Intangible Assets
Note 6 - Segments
Note 7 - Investments
Note 8 - Derivative Instruments
Note 9 - Fair Value Measurement of Assets and Liabilities
Note 10 - Debt
Note 11 - Balance Sheet Components
Note 12 - Commitments and Contingencies
Note 13 - Stockholders' Equity
Note 14 - Employee Benefit Plans
Note 15 - Income Taxes
Note 16 - Accumulated Other Comprehensive Income
Note 17 - Restructuring
Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3: Quantitative and Qualitative Disclosures About Market Risk
Item 4: Controls and Procedures
Part Ii: Other Information
Item 1: Legal Proceedings
Item 1A: Risk Factors
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds
Item 3: Defaults Upon Senior Securities
Item 4: Mine Safety Disclosures
Item 5: Other Information
Item 6: Exhibits
EX-10.01+ ebayceoofferletter.htm
EX-10.02+ scottschenkeltransitio.htm
EX-10.03+ ebayarsvpandabovestand.htm
EX-10.04+ ebayarcicseveranceplan.htm
EX-31.01 ebay063020ex3101.htm
EX-31.02 ebay063020ex3102.htm
EX-32.01 ebay063020ex3201.htm
EX-32.02 ebay063020ex3202.htm

eBay Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
504030201002012201420172020
Assets, Equity
10.07.54.92.4-0.2-2.72012201420172020
Rev, G Profit, Net Income
2.31.20.2-0.9-1.9-3.02012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______ to _______
Commission file number 001-37713
 ebay-20200630_g1.jpg
EBAY INC
(Exact name of registrant as specified in its charter)

Delaware77-0430924
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
2025 Hamilton Avenue
San Jose,California95125
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:
(408376-7008
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of exchange on which registered
Common stockEBAYThe Nasdaq Global Select Market
6.00% Notes due 2056EBAYLThe Nasdaq Global Select Market


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes   No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes    No 
As of July 27, 2020, there were 699,881,116 shares of the registrant’s common stock, $0.001 par value, outstanding, which is the only class of common or voting stock of the registrant issued.


1


PART I: FINANCIAL INFORMATION
Item 1: Financial Statements
eBay Inc.
CONDENSED CONSOLIDATED BALANCE SHEET
 June 30,
2020
December 31,
2019
 (In millions, except par value)
 (Unaudited)
ASSETS
Current assets:  
Cash and cash equivalents$1,006  $923  
Short-term investments4,297  1,850  
Accounts receivable, net of allowance for doubtful accounts of $140 and $100
845  691  
Other current assets1,246  1,101  
Current assets of discontinued operations  141  
Total current assets7,394  4,706  
Long-term investments832  1,305  
Property and equipment, net1,364  1,484  
Goodwill4,910  4,929  
Intangible assets, net56  62  
Operating lease right-of-use assets536  599  
Deferred tax assets4,203  4,369  
Other assets719  414  
Long-term assets of discontinued operations  306  
Total assets$20,014  $18,174  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt$516  $1,022  
Accounts payable305  251  
Accrued expenses and other current liabilities2,440  2,189  
Deferred revenue103  135  
Income taxes payable1,328  210  
Current liabilities of discontinued operations  259  
Total current liabilities4,692  4,066  
Operating lease liabilities411  472  
Deferred tax liabilities2,584  2,646  
Long-term debt8,161  6,738  
Other liabilities1,264  1,356  
Long-term liabilities of discontinued operations  26  
Total liabilities17,112  15,304  
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.001 par value; 3,580 shares authorized; 705 and 796 shares outstanding
2  2  
Additional paid-in capital15,844  16,126  
Treasury stock at cost, 995 and 897 shares
(34,946) (31,396) 
Retained earnings21,681  17,754  
Accumulated other comprehensive income321  384  
Total stockholders’ equity2,902  2,870  
Total liabilities and stockholders’ equity$20,014  $18,174  

The accompanying notes are an integral part of these condensed consolidated financial statements.

2


eBay Inc.
CONDENSED CONSOLIDATED STATEMENT OF INCOME
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2020201920202019
 (In millions, except per share amounts)
 (Unaudited)
Net revenues$2,865  $2,423  $5,239  $4,836  
Cost of net revenues598  553  1,124  1,092  
Gross profit2,267  1,870  4,115  3,744  
Operating expenses:
Sales and marketing716  688  1,323  1,335  
Product development308  295  575  567  
General and administrative320  256  554  540  
Provision for transaction losses93  63  195  130  
Amortization of acquired intangible assets9  10  18  21  
Total operating expenses1,446  1,312  2,665  2,593  
Income from operations821  558  1,450  1,151  
Interest and other, net182  (51) 184  13  
Income from continuing operations before income taxes1,003  507  1,634  1,164  
Income tax provision(263) (107) (409) (248) 
Income from continuing operations740  400  1,225  916  
Income from discontinued operations, net of income taxes6  2  2,933  4  
Net income$746  $402  $4,158  $920  
Income per share - basic:  
Continuing operations$1.05  $0.47  $1.68  $1.04  
Discontinued operations0.01    4.03  0.01  
Net income per share - basic$1.06  $0.47  $5.71  $1.05  
Income per share - diluted:
Continuing operations$1.04  $0.46  $1.67  $1.03  
Discontinued operations0.01    4.00  0.01  
Net income per share - diluted$1.05  $0.46  $5.67  $1.04  
Weighted-average shares:  
Basic703  860  728  880  
Diluted711  867  734  887  

The accompanying notes are an integral part of these condensed consolidated financial statements.


3


eBay Inc.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Three Months Ended
June 30,
Six Months Ended
June 30,
 2020201920202019
 (In millions)
 (Unaudited)
Net income$746  $402  $4,158  $920  
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation gains (losses)49  (20) (64) (52) 
Unrealized gains (losses) on investments, net32  16  1  56  
Tax benefit (expense) on unrealized gains (losses) on investments, net(8) (5)   (15) 
Unrealized gains (losses) on hedging activities, net(47) 11    (30) 
Tax benefit (expense) on unrealized gains (losses) on hedging activities, net10  (2)   7  
Other comprehensive income (loss), net of tax36    (63) (34) 
Comprehensive income (loss)$782  $402  $4,095  $886  

The accompanying notes are an integral part of these condensed consolidated financial statements.


4


eBay Inc.
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY
 
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2020201920202019
 (In millions)
(Unaudited)
Common stock:
Balance, beginning of period$2  $2  $2  $2  
Common stock issued        
Common stock repurchased/forfeited        
Balance, end of period2  2  2  2  
Additional paid-in-capital:
Balance, beginning of period15,723  15,785  16,126  15,716  
Common stock and stock-based awards issued45  52  49  55  
Tax withholdings related to net share settlements of restricted stock units and awards(43) (65) (83) (119) 
Stock-based compensation116  139  210  260  
Forward contract for share repurchase    (450)   
Other3    (8) (1) 
Balance, end of period15,844  15,911  15,844  15,911  
Treasury stock at cost:
Balance, beginning of period(34,946) (27,895) (31,396) (26,394) 
Common stock repurchased  (1,501) (3,550) (3,002) 
Balance, end of period(34,946) (29,396) (34,946) (29,396) 
Retained earnings:
Balance, beginning of period21,051  16,847  17,754  16,459  
Net income746  402  4,158  920  
Dividends and dividend equivalents declared(116) (124) (231) (254) 
Balance, end of period21,681  17,125  21,681  17,125  
Accumulated other comprehensive income:
Balance, beginning of period285  464  384  498  
Foreign currency translation adjustment49  (20) (64) (52) 
Change in unrealized gains (losses) on investments32  16  1  56  
Change in unrealized gains (losses) on derivative instruments(47) 11    (30) 
Tax benefit (provision) on above items2  (7)   (8) 
Balance, end of period321  464  321  464  
Total stockholders’ equity$2,902  $4,106  $2,902  $4,106  
Dividends and dividend equivalents declared per share or restricted stock unit$0.16  $0.14  $0.32  $0.28  

The accompanying notes are an integral part of these condensed consolidated financial statements.


5


eBay Inc.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
 Six Months Ended
June 30,
 20202019
 (In millions)
 (Unaudited)
Cash flows from operating activities:  
Net income$4,158  $920  
(Income) loss from discontinued operations, net of income taxes(2,933) (4) 
Adjustments:
Provision for transaction losses195  130  
Depreciation and amortization319  330  
Stock-based compensation216  241  
(Gain) loss on investments, net2  1  
Deferred income taxes104  56  
Change in fair value of warrant(305) (105) 
Changes in assets and liabilities, net of acquisition effects(90) (302) 
Net cash provided by continuing operating activities1,666  1,267  
Net cash provided by (used in) discontinued operating activities(110) 27  
Net cash provided by operating activities1,556  1,294  
Cash flows from investing activities:  
Purchases of property and equipment(196) (313) 
Purchases of investments(21,673) (24,167) 
Maturities and sales of investments19,666  25,827  
Acquisitions, net of cash acquired(42) (93) 
Other39  49  
Net cash provided by (used in) continuing investing activities(2,206) 1,303  
Net cash provided by (used in) discontinued investing activities4,075  (17) 
Net cash provided by investing activities1,869  1,286  
Cash flows from financing activities:  
Proceeds from issuance of common stock50  55  
Repurchases of common stock(4,030) (2,949) 
Payments for taxes related to net share settlements of restricted stock units and awards(83) (119) 
Payments for dividends(226) (245) 
Proceeds from issuance of long-term debt, net1,765    
Repayment of debt(839)   
Other(7)   
Net cash used in continuing financing activities(3,370) (3,258) 
Net cash provided by (used in) discontinued financing activities    
Net cash used in financing activities(3,370) (3,258) 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(