Ebay revenues up 35%, profit boosted by Skype sale

Ebay reported fourth-quarter revenues up 35 percent from a year earlier to USD 3.4 billion. Net profit jumped to USD 2.0 billion or USD 1.51 per share, from USD 559 million or USD 0.42 per share a year ago thanks to a gain on the sale of the rest of the company's stake in Skype. Revenues were slightly ahead of the company's earlier guidance, and net profit was in line with expectations. PayPal led the increase in revenues, growing sales 28 percent year-on-year to USD 1.24 billion. The number of PayPal accounts was up 13 percent over the same period to 106.3 million, and net payment volume in the quarter increased 24 percent to USD 33.4 billion. For the first time, revenue from international markets exceeded that of the US. At the marketplaces division, revenues rose 16 percent to USD 1.77 billion. Gross merchandise sold reached USD 16.49 billion excluding cars, up 10 percent from a year earlier. Ebay forecast first-quarter revenues of USD 3.05-3.15 billion and EPS of USD 37-38. For the full year 2012, the company expects revenues of USD 13.7-14.0 billion, up from USD 11.7 billion in 2011, and EPS of USD 1.76-1.81, versus USD 2.46 last year. Ebay finished 2011 with USD 7.4 billion in cash.