eBay’s Cash and equivalents were $6.1 billion at the end of the quarter. The Free Cash Flow was $580.1 million, cash flow from operations was $747.1 million, and operating margin was 28.7%, and operating margin was 21.8%. Gross Merchandise volume was $12.6 billion on an ex-auto basis. The company also ended with close to 90 million PayPal accounts.
More importantly, the company authorized up to $2 billion for additional share buybacks and it authorized a commercial paper program of up to $1 billion and has approved the sale of up to $1.5 billion in term-debt financing under an existing shelf registration. The company spent roughly $300 million buying shares in the last quarter.
eBay shares closed up 0.5% at $25.66 today versus a 52-week range of $19.06 to $28.37. Shares appear to be indicated flat in after-hours.
JON C. OGG
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