eBay (EBAY) 2008年年度报告「NASDAQ」.pdf

1、 To Our Stockholders,In 2008,we embraced a tremendous amount offundamental change against the backdrop ofa deteriorating externalmarket and economy.Even with the challenges,we exited the year a stronger company and remain a leader ine-commerce,payments and Internet voice communications.Our performan

2、ce for the full year not only reflects thestrength of our portfolio,but also the operating discipline,strategic clarity and focus with which our managementteam is leading the company going forward.Financially,the company had a good year,marked by strong revenue growth,stronger EPS growth and excelle

3、ntfree cash flow.Despite the extremely challenging economic environment in 2008 including a slowdown in globale-commerce,a strengthening dollar,and declining interest rates we delivered$8.5 billion in revenues,an11 percent increase from the prior year,and$1.36 of diluted EPS.We also delivered a soli

4、d operating margin of24 percent.The size of the eBay marketplace continues to be the largest in the world with nearly$60 billion of grossmerchandise volume(the total value of goods sold in all of our Marketplaces)in 2008.PayPal continues toexperience stronggrowth,bothoneBay andacrosse-commerce,andSk

5、ypehad agreat year,growingbothrevenuesand user base.In addition,we strengthened our portfolio by investing in the growth of our emerging businesses and through keyacquisitions.In2008,advertising,globalclassifiedsandStubHub,the leading online tickets marketplace,all gainedmomentum in terms of revenue

6、s.Keyacquisitions wemadeduringtheyear willhelpusbuildonourstrengths.FraudSciences enhancesPayPalsriskmanagement capabilities.Bill Me Later further extends our leadership position in payments.And dba.dk andBilBasen,leading classifieds sites in Denmark,broaden our global leadership in online classifie