1、AnnualReport2009To Our Stockholders,In 2009,eBay Inc.became a stronger,more focused company.We communicated our three-year growth andoperating targets in March 2009,setting bold goals for us to remain a global payments and e-commerce leader.During the year,we experienced significant growth in our pa
2、yments business,which we believe is well-positioned for success in the years to come.We strengthened our Marketplaces business by fixing fundamentalissues that we believe were holding us back.And we sold a majority of Skype,allowing us to focus on our twocore growth engines:payments and e-commerce.W
3、e did all of this while embracing the kind of operational andfinancial discipline that is the hallmark of a healthy,growing company.Our financial performance for the full year reflects these efforts.Despite the challenging environment in 2009,particularly in the first half of the year,we delivered$8
4、.7 billion in revenues,a 2 percent increase from the prioryear,and$1.83 of diluted EPS.Although our operating margin of 17 percent was lower compared to 2008,wedelivered$2.9 billion in operating cash flow for the year.We connected more buyers and sellers than ever before through our core payments an
5、d e-commercebusinesses in 2009.PayPal had an exceptional 2009,ending the year with net total payment volume(TPV)of$71 billion a 19 percent increase over 2008 and 81 million active registered accounts globally.OurMarketplaces business,led by eBay,grew its customer base to 90 million active users worl
6、dwide and tookimportant steps in improving the fundamentals of its business,focusing on trust,value and selection.Our Marketplaces portfolio got stronger overall in 2009:Acquiring Gmarket,Koreas leading onlinemarketplace,gave us a leadership position in a key e-commerce market in Asia.StubHub,a lead