Q Financial Highlights. October 16, 2013
|
|
- Darren Walton
- 8 years ago
- Views:
Transcription
1 October 16, 2013
2 This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the appendix at the end of this presentation. All growth rates represent year-over-year comparisons, except as otherwise noted. This presentation contains forward-looking statements relating to our future performance that are based on our current expectations, forecasts and assumptions and involve risks and uncertainties. These statements include, but are not limited to, statements regarding expected financial results for the fourth quarter and full year 2013 and future growth in the Payments, Marketplaces and Enterprise businesses. Our actual results may differ materially from those included in this presentation for a variety of reasons, including, but not limited to: changes in political, business, and economic conditions, including any continuing U.S. government shutdown or default; foreign exchange rate fluctuations; our need to successfully react to the increasing importance of mobile payments and mobile commerce and the social aspect of commerce; an increasingly competitive environment for our businesses; the complexity of managing an increasingly large enterprise with a broad range of businesses; our need to manage regulatory, tax and litigation risks (including risks specific to PayPal and Bill Me Later); our need to timely upgrade and develop our technology systems, infrastructure, and customer service capabilities at reasonable cost while maintaining site stability and performance and adding new products and features; and our ability to integrate, manage and grow businesses recently acquired or that may be acquired in the future. You can find more information about factors that could affect our operating results in our most recent annual report on Form 10-K and our subsequent quarterly reports on Form 10-Q (available at You should not rely on any forward-looking statements, and we assume no obligation to update them. All information in this presentation is as of October 16, 2013, and we do not intend, and undertake no duty, to update this presentation. 2
3 ebay Inc. Strong third quarter results Enabled Commerce Volume (ECV*) of $52B (up 21%) ebay Inc. take rate** of 7.6% Revenue grew 14%. Non-GAAP EPS of $0.64, up 17% Generated $1,017M of free cash flow Double digit active user growth at both PayPal and Marketplaces Announced agreement to acquire Braintree for $800M; received $485M from the sale of investments in ShopRunner and RueLaLa, and repayment of the Kynetic note receivable We are maintaining our full year guidance, and expect to be at the lower end of the range for top and bottom line *Enabled Commerce Volume (ECV) includes Marketplaces GMV, PayPal Merchant Services TPV and ebay Enterprise Merchandise Sales not earned on ebay or paid for via PayPal or Bill Me Later during the period. Excludes volume transacted through the Magento platform **ebay Inc. take rate is calculated as ebay Inc. Revenue / ECV As adjusted for the expected impact of the Braintree acquisition announced on September 26, 2013 (assuming closing in late Q4-13) Calculations of Non-GAAP EPS and Free Cash Flow (FCF) are included in the Appendix of this presentation 3
4 ebay Inc. Enabled Commerce Volume ($ millions) Enabled Commerce Volume* 50,185 48,795 50,597 51,507 Mobile leader: 75% growth in mobile ECV, 3.2M new customers added via mobile 41,906 42,593 Global reach: 22% of ECV cross-border; PayPal localized in Russia; ebay Fashion app launched in Brazil; Global Shipping Program expanded to 37 countries Omnichannel expansion: Enhanced PayPal app rolled out in 125 countries, and order ahead live in 4 countries; Click & Collect announced in U.K. Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Reported Y/Y Growth 15% 16% 21% 19% 21% 21% Fx-Neutral Y/Y Growth 19% 19% 21% 19% 21% 21% Take Rate** 8.1% 8.0% 8.0% 7.7% 7.7% 7.6% Engagement: >500M items listed on Marketplaces globally; free 2 day shipping pilot at 9 ebay Enterprise clients when paying with PayPal *Enabled Commerce Volume (ECV) includes Marketplaces GMV, PayPal Merchant Services TPV and ebay Enterprise Merchandise Sales not earned on ebay or paid for via PayPal or Bill Me Later during the period. Excludes volume transacted through the Magento platform **ebay Inc. take rate is calculated as ebay Inc. Revenue / ECV 4
5 ebay Inc. Revenue ($ millions) Revenue 2,760 2,966 3,380 3,277 3,398 3,404 3,992 3,748 3,877 3,892 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Reported Y/Y Growth 25% 32% 35% 29% 23% 15% 18% 14% 14% 14% Organic Y/Y Growth* 18% 18% 19% 18% 18% 18% 19% 15% 15% 14% *Calculation of Organic Y/Y Growth is included in the Appendix of this presentation 5
6 ebay Inc. Non-GAAP EPS Non-GAAP EPS* $0.48 $0.48 $0.60 $0.55 $0.56 $0.55 $0.70 $0.63 $0.63 $0.64 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Reported Y/Y Growth 20% 20% 17% 18% 16% 14% 17% 14% 12% 17% Non-GAAP Op. Margin* 27.6% 25.3% 28.7% 26.9% 27.3% 26.3% 28.5% 27.4% 26.3% 26.8% *Calculations of Non-GAAP EPS and Non-GAAP Op. Margin are included in the Appendix of this presentation 6
7 ebay Inc. Free Cash Flow ($ millions) Free Cash Flow* 1,090 1, Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Reported Y/Y Growth 5% -9% 5% -48% -24% 51% 58% 121% 60% 28% Capex % of Revenue 9% 10% 9% 7% 10% 11% 7% 8% 9% 8% FCF % of Revenue 20% 18% 20% 9% 12% 23% 27% 17% 17% 26% *Calculation of Free Cash Flow (FCF) is included in the Appendix of this presentation 7
8 Payments Revenue ($ millions) Revenue Marketing Services & Other Revenue Transaction Revenue 1,234 1,264 1,431 1,435 1,475 1,493 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 $ Millions 1,357 1,367 1,541 1,548 1,624 1,620 Y/Y Growth 26% 23% 24% 18% 20% 19% Fx-Neutral Y/Y Growth 27% 24% 24% 20% 21% 20% % Int'l 51% 51% 52% 51% 51% 52% Reflects reclassification of a portion of Marketing Services & Other (MS&O) revenue from International to the U.S. for Q4 11-Q4 12 8
9 Payments Operating Metrics (In millions, except %) Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Global Active Accounts Y/Y Growth 13% 14% 15% 16% 17% 17% Net Number of Payments Y/Y Growth 31% 28% 26% 23% 24% 24% On ebay TPV 11,336 11,455 13,444 12,953 13,006 13,112 Y/Y Growth 15% 15% 18% 13% 15% 14% Fx-Neutral Y/Y Growth 18% 18% 18% 14% 15% 15% Merchant Services TPV* 23,114 23,704 28,026 28,087 29,807 30,725 Y/Y Growth 23% 23% 28% 25% 29% 30% Fx-Neutral Y/Y Growth 26% 26% 28% 26% 29% 30% Total TPV 34,451 35,159 41,471 41,040 42,813 43,837 Y/Y Growth 20% 20% 24% 21% 24% 25% Fx-Neutral Y/Y Growth 23% 23% 25% 22% 25% 25% % Int'l TPV 47% 47% 48% 47% 48% 48% Global On ebay Penetration Rate 75.6% 76.6% 76.6% 76.9% 77.2% 78.2% Take Rate 3.94% 3.89% 3.72% 3.77% 3.79% 3.70% Transaction Expense 1.07% 1.07% 1.03% 1.05% 1.04% 1.05% Loss Rate 0.26% 0.30% 0.28% 0.29% 0.31% 0.30% Transaction Margin** 66.3% 64.8% 64.7% 64.4% 64.4% 63.4% Expanded merchant coverage online, added 3 new Internet Retailer 100 clients in the U.S. and 7 in Europe Innovated in omnichannel with enhanced mobile app; enabling closed loop offers; PayPal Here U.K. Chip & PIN launch; and partnerships with TSYS and MICROS Segment margin up due primarily to operating expense leverage partially offset by lower take rate from large merchant mix, foreign currency hedges, and lower cross-currency transaction growth Payments Segment Margin 25.8% 22.6% 23.0% 24.1% 23.0% 22.7% *Merchant Services TPV includes TPV for Bill Me Later (whether used within or outside of the PayPal wallet) and Zong **Transaction Margin calculation has been adjusted to include total revenues (including revenue from credit and Zong), less transaction expense (including credit cost of funds), less transaction loss (including credit loan losses), divided by global take rate (based on global total revenues divided by total TPV) 9
10 Credit Operating Metrics Portfolio Balance: $2.6B* 30% 20% 10% 0% Portfolio Balance ($M) BML Growth BML Share of U.S. GMV & TPV** BML Offshore Funded Portfolio Risk Adj. Margin*** Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 3,000 2,500 2,000 1,500 1, % 4% 3% 2% 1% 0% BML Share of US Addressable GMV BML Share of US Addressable GMV & MS TPV BML Share of MS TPV Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 2,000 1,800 1,600 1,400 1,200 1, Offshore funded loan receivable bal ($M) % Offshore Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q % 80% 60% 40% 20% 0% Strong growth Good margins Improved funding mix Increasing returns to offshore cash Credit Operating Metrics Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 BML TPV ($M) , ,009 BML TPV (Y/Y growth) 39% 37% 31% 31% 34% 30% Portfolio Balance ($M) 1,692 1,878 2,261 2,258 2,391 2,564 Risk Adjusted Margin 15.5% 16.5% 15.6% 15.8% 16.2% 16.1% Net Charge-offs 4.6% 4.9% 5.3% 5.3% 5.6% 5.5% *Gross receivables balance as of 9/30/13 **% of US Marketplaces GMV and Merchant Services TPV funded using Bill Me Later (excluding Bill Me Later legacy business) Risk adjusted margin represents the annualized ratio of Bill Me Later revenue, excluding contra-revenue incentives to customers or merchants, less cost of funds less net credit and fraud losses relative to average loans receivable for the three month period 10
11 Marketplaces Revenue ($ millions) Revenue Marketing Services & Other Revenue Transaction Revenue 1,491 1,490 1,672 1,608 1,637 1,668 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 $ Millions 1,814 1,806 2,050 1,957 2,001 2,027 Y/Y Growth 9% 9% 16% 13% 10% 12% Fx-Neutral Y/Y Growth 14% 13% 16% 13% 10% 12% % Int'l 60% 58% 59% 59% 59% 58% 11
12 Marketplaces Operating Metrics (In millions, except percentages) Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Global Active Users Y/Y Growth 8% 10% 12% 13% 14% 14% Y/Y Growth in Sold Items 19.7% 19.0% 17.4% 11.7% 11.3% 11.4% US Non-Vehicles GMV 6,241 6,479 7,338 7,364 7,266 7,420 Y/Y Growth 14% 16% 19% 16% 16% 15% Int'l Non-Vehicles GMV 9,930 9,801 11,767 10,962 11,026 10,940 Y/Y Growth 8% 8% 14% 11% 11% 12% Fx-Neutral Y/Y Growth 16% 15% 14% 11% 11% 11% Non-Vehicles GMV 16,171 16,281 19,105 18,326 18,292 18,360 Y/Y Growth 10% 11% 16% 13% 13% 13% Fx-Neutral Y/Y Growth 15% 15% 16% 13% 13% 12% Vehicles GMV 2,021 1,994 1,727 1,686 1,805 1,765 Y/Y Growth -10% -7% -7% -10% -11% -11% Fx-Neutral Y/Y Growth -7% -5% -8% -10% -10% -11% Fixed price as a % of GMV 65% 66% 68% 68% 69% 71% Marketplaces Segment Margin 39.6% 39.0% 41.5% 42.1% 39.7% 38.9% EU and Korea stabilized, with deterioration in the U.S. GMV growth driven primarily by mobile, and improved customer experience Expanded selection via seller improvements Improved trust with top rated seller coverage Free shipping on 54% of U.S. transactions Improved search experience through Cassini Segment margin down driven primarily by investments in trust and technology partially offset by operating expense leverage 12
13 ebay Enterprise Revenue & Operating Metrics ($ millions) Revenue/Metrics Marketing Services & Other Revenue Transaction Revenue Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Total Revenue Y/Y Growth 9% 12% 10% 0% 11% 5% Merchandise Sales* , Y/Y Growth 18% 16% 15% 13% 21% 13% Same Store Sales (SSS) Y/Y Growth 21% 19% 17% 16% 19% 13% Segment Margin 4.7% 6.1% 20.3% 2.8% 4.4% 5.0% Revenue growth impacted by take rate alignment, client mix, and channel mix 4 brands on the new platform in Q3, and new client Sony live on 10/11 Leveraging ebay Inc. assets PayPal: 97% of volume covered by PayPal, with 15% share of checkout; 5 clients offering PayPal POS Marketplaces: 27 client sites live *Merchandise Sales represents the retail value of all sales transactions, inclusive of freight charges and net of allowances for returns and discounts, which flow through our ebay Enterprise Commerce Technologies, whether we record the full amount of such transaction as a product sale or a net amount of such transaction as a service fee Reconciliation of ebay Enterprise revenue / operating metrics to amounts reported in ebay Inc. s financial statements can be found in the Appendix of this presentation 13
14 ebay Inc. Operating Expenses* Sales & Marketing (% of Revenue) Product Development (% of Revenue) General & Admin. (% of Revenue) Prov. for Trxn and Loan Loss** (% of Revenue) 20.3% 18.4% 10.4% 10.1% 9.6% 9.3% 4.3% 4.7% Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Shift in spend & marketing efficiencies Product & customer experience investments Operating leverage Marketplaces trust initiatives & PayPal TPV growing faster than ebay Inc. revenue Q3-13 Non-GAAP Op Income: $1,040M Q3-13 Non-GAAP Net Income: $837M *All expenses are shown on a Non-GAAP basis (calculations can be found in the Appendix of this presentation) **Prov. for Trxn and Loan Loss includes Marketplaces and PayPal transaction loss, Marketplaces consumer protection programs, bad debt expense and BML loan loss Calculations of Non-GAAP Operating Income and Non-GAAP Net Income are included in the Appendix of this presentation 14
15 ebay Inc. Cash Flow & Capital Allocation ($ billions) Cash Balance/Flows 13.0 Free Cash Flow / Other Movements Generated FCF of $1,017M $485M from divestiture of ShopRunner & RueLaLa investments, and repayment of Kynetic note receivable Capex ~8% driven by search/data investments and site operations Short/Long-Term Investments Repurchased 2.8M shares for ~$146M 5.7 Int'l Cash US Cash % of BML loan receivables portfolio funded with offshore cash Total US cash and non-equity investments at quarter end ~$3.9B Q2'13 Ending Balance* FCF Buyback BML Other** Q3'13 Ending Balance* *Cash balances/flows include cash, cash equivalents and non-equity investments **Other includes primarily FX impact, employee stock plans, and acquisitions/divestitures Calculation of Free Cash Flow is included in the Appendix of this presentation 15
16 Guidance Context Macro environment Europe and APAC mostly stable U.S. weaker with cautious outlook for Holiday season Currency the U.S. Dollar has weakened since July vs. the British Pound and Euro positive impact to topline, but no impact to bottom line due to hedging Investments/operating leverage We expect a $0.01 dilution to Non-GAAP EPS from the anticipated closing of the Braintree acquisition in late Q4 We expect to increase spend through our ebay Enterprise/PayPal free shipping pilot to drive higher conversion for merchants and increase share of checkout for PayPal Strong operating leverage Q3 momentum carries into Q4 Calculation of Non-GAAP EPS is included in the Appendix of this presentation 16
17 Q4 Guidance Revenue (in billions) Q Guidance** Low High $4.50 $4.60 Y/Y Growth 13% 15% Non-GAAP EPS* $0.79 $0.81 Y/Y Growth 12% 15% We are maintaining our full year guidance, and expect to be at the lower end of the range for top and bottom line *Calculation of Non-GAAP EPS is included in the Appendix of this presentation **Assumes closing of Braintree acquisition in late Q4-13 As adjusted for the expected impact of the Braintree acquisition announced on September 26, 2013 (assuming closing in late Q4-13) 17
18 Summary Strong quarter for our core businesses while continuing to test and learn in adjacencies (MS&O, credit) and seeds (local, geographic expansion, omnichannel) PayPal continues its strong growth increasing focus on simplifying and improving customer experience Marketplaces is stable in deteriorating U.S. environment driven by investments in the buyer and seller experience ebay Enterprise continues to position its assets for growth, invest in technology and grow the client portfolio Investing for long-term focused on delivering omnichannel technology and commerce solutions to a larger addressable market 18
19 Q&A
20 Appendix
21 ebay Inc. RoIC Return on Invested Capital* 25.3% 24.5% 23.9% 23.0% 22.2% 22.2% 22.5% 22.9% 23.2% 23.7% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 *Trailing 12-month Pro-Forma Net Operating Profits After Tax / (Average Total Assets 95% of Average Cash, Cash Equivalents, and Investments - Average Current Liabilities) Calculation of Return on Invested Capital is included in the Appendix of this presentation 21
22 Marketplaces GMV Formats Fixed Price GMV Auction GMV Vehicles GMV ($ billions) ($ billions) ($ billions) $11.3 $11.7 $13.7 $13.1 $13.4 $13.9 $4.8 $4.6 $5.4 $5.2 $4.9 $4.5 $2.0 $2.0 $1.7 $1.7 $1.8 $1.8 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Y/Y Growth 16% 16% 21% 18% 18% 19% FX-Neutral Y/Y Growth 20% 20% 21% 17% 18% 18% % of Total FX-Neutral GMV 62% 64% 66% 66% 67% 69% Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Y/Y Growth -1% 0% 4% 2% 1% -2% FX-Neutral Y/Y Growth 4% 4% 5% 2% 1% -3% % of Total FX-Neutral GMV 27% 25% 26% 26% 24% 22% Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Y/Y Growth -10% -7% -7% -10% -11% -11% FX-Neutral Y/Y Growth -7% -5% -8% -10% -10% -11% % of Total FX-Neutral GMV 11% 11% 8% 8% 9% 9% Strong performance Stable dollar volume as shift continues to fixed price Shifting from GMV to lead gen model 22
23 Calculation of Organic Revenue Growth Mar 31, Jun 30, Sept 30, Dec 31, Total revenue growth 16 % 25 % 32 % 35 % Acquisition/Disposition impact (1)% (2)% (11)% (16)% Foreign currency impact (1)% (5)% (3)% % Total organic revenue growth 14 % 18 % 18 % 19 % Mar 31, Jun 30, Sept 30, Dec 31, Total revenue growth 29 % 23 % 15 % 18 % Acquisition/Disposition impact (11)% (8)% % 1 % Foreign currency impact % 3 % 3 % % Total organic revenue growth 18 % 18 % 18 % 19 % Mar 31, June 30, Sept 30, Total revenue growth 14 % 14 % 14 % Acquisition/Disposition impact 0.5 % % % Foreign currency impact 0.5 % 1 % % Total organic revenue growth 15 % 15 % 14 % 23
24 Reconciliation of Quarterly GAAP to Non-GAAP Operating Margin (in millions) Sept 30, Dec 31, Mar 31, Jun 30, Sept 30, Dec 31, Mar 31, Jun 30, Sept 30, GAAP operating income (loss) $ 537 $ 754 $ 653 $ 695 $ 667 $ 874 $ 800 $ 750 $ 799 Stock-based compensation expense and related employer payroll taxes Acquisition related transaction expense 1 Amortization of acquired intangible assets (1) Restructuring 31 (4) Non-GAAP operating income $ 751 $ 972 $ 883 $ 927 $ 895 $ 1,136 $ 1,025 $ 1,019 $ 1,040 Revenues $ 2,966 $ 3,380 $ 3,277 $ 3,398 $ 3,404 $ 3,992 $ 3,748 $ 3,877 $ 3,892 GAAP operating margin 18.1 % 22.3 % 19.9 % 20.5 % 19.6 % 21.9 % 21.3 % 19.3 % 20.5 % Non-GAAP operating margin 25.3 % 28.7 % 26.9 % 27.3 % 26.3 % 28.5 % 27.4 % 26.3 % 26.8 % (1) Includes amortization of acquired intangible assets within cost of net revenues and operating expenses. 24
25 Reconciliation of Quarterly GAAP to Non-GAAP Net Income / EPS (in millions, except per share data) Sept 30, Dec 31, Mar 31, Jun 30, Sept 30, Dec 31, Mar 31, Jun 30, Sept 30, GAAP net income $ 491 $ 1,980 $ 570 $ 692 $ 597 $ 751 $ 677 $ 640 $ 689 Stock-based compensation expense and related employer payroll taxes Acquisition related transaction expense 1 Amortization of acquired intangible assets (1) Restructuring 31 (4) Skype sale and transaction related items (1,664) (2) Amortization of intangibles and stockbased compensation for Skype 24 Gain from the acquisition of a business (56) Acquisition related items (1) Loss on divested business 3 Accretion of note receivable (4) (4) (9) (5) (4) (4) (5) (5) (5) Amortization of intangibles Gain on sale of RueLaLa and ShopRunner (75) Gain on investment (5) Gain from the divestiture of a business (118) Income taxes associated with certain non- GAAP entries (41) 259 (69) (71) (101) (81) (70) (79) (15) Non-GAAP net income $ 628 $ 789 $ $ 718 $ 927 $ 829 $ 822 $ 837 Non-GAAP net income per diluted share $ 0.48 $ 0.60 $ $ 0.55 $ 0.70 $ 0.63 $ 0.63 $ 0.64 Shares used in non-gaap diluted share calculation 1,309 1,308 1,308 1,309 1,314 1,318 1,319 1,313 1,310 (1) Includes amortization of acquired intangible assets within cost of net revenues and operating expenses. 25
26 Reconciliation of Quarterly GAAP to Non-GAAP Quarterly Statement of Income Reported Three Months Ended Non-GAAP Entries Non-GAAP Reported Non-GAAP Entries (in millions, except per share data and percentages) Three Months Ended September 30, 2013 September 30, 2012 Non-GAAP Net revenues $ 3,892 $ 3,892 $ 3,404 $ $ 3,404 Cost of net revenues 1,224 (9) (a) 1,196 1,022 (13) (a) 989 (19) (c) (20) (c) Gross Profit 2, ,696 2, ,415 Operating expenses: Sales and marketing 755 (38) (a) (35) (a) 691 Product development 433 (42) (a) (34) (a) 355 General and administrative 415 (51) (a) (40) (a) 326 (1) (b) (3) (b) Provision for transaction and loan losses Amortization of acquired intangible assets 81 (81) (c) 83 (83) (c) Total operating expense 1,869 (213) 1,656 1,715 (195) 1,520 Income from operations , Interest and other income, net 74 2 (r) (4) 5 (1) (75) (t) (2) (h) Accretion of note receivable (5) (m) (4) (m) Income before income taxes , Provision for income taxes (184) (15) (d) (199) (75) (101) (d) (176) Net income $ $ 837 $ 597 $ 121 $ 718 Net income per share: Basic $ 0.53 $ 0.65 $ 0.46 $ 0.56 Diluted $ 0.53 $ 0.64 $ 0.45 $ 0.55 Weighted average shares: Basic 1,295 1,295 1,292 1,292 Diluted 1,310 1,310 1,314 1,314 Operating margin 21 % 6 % 27 % 20 % 6 % 26 % Effective tax rate 21 % (2)% 19 % 11 % 9 % 20 % Notes: (a) Stock-based compensation expense (b) Employer payroll taxes on stock-based compensation (c) Amortization of acquired intangible assets and developed technology (d) Income taxes associated with certain non-gaap entries (h) Sale of Skype and transaction related items (i) Acquisition related transaction expense (j) Gain from the acquisition of a business (k) Loss on divested business (m) Accretion of note receivable (p) Gain on the divestiture of a business (q) Fanatics lawsuit settlement (r) Intangible amortization (t) Gain on sale of RueLaLa and ShopRunner 26
27 Calculation of Free Cash Flow Three Months Ended Mar 31, Jun 30, Sept 30, Dec 31, Full Year (in millions) GAAP operating cash flow $ 700 $ 783 $ 809 $ 983 $ 3,274 Purchases of property and equipment, net (149) (240) (283) (292) (963) Free cash flow $ 551 $ 543 $ 526 $ 691 $ 2,311 Three Months Ended Mar 31, Jun 30, Sept 30, Dec 31, Full Year (in millions) GAAP operating cash flow $ 531 $ 768 1,154 1,386 3,838 Purchases of property and equipment, net (242) (357) (362) (296) (1,257) Free cash flow $ 289 $ ,090 2,581 Three Months Ended Mar 31, Jun 30, Sept 30, (in millions) GAAP operating cash flow $ 937 1,011 1,334 Purchases of property and equipment, net (299) (353) (317) Free cash flow $ ,017 27
28 Reconciliation and Calculation of Return on Invested Capital In millions, except percentages Numerator components: Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Non-GAAP operating income $ 751 $ 972 $ 883 $ 927 $ 895 $ 1,136 $ 1,025 $ 1,019 $ 1,040 Tax rate 21 % 20 % 20 % 24 % 20 % 18 % 20 % 19 % 19 % Non-GAAP operating income after tax $ 594 $ 778 $ 705 $ 705 $ 719 $ 929 $ 825 $ 824 $ 841 Denominator components: Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Total assets $ 24,901 $ 27,320 $ 28,207 $ 28,258 $ 32,502 $ 37,274 $ 38,000 $ 38,550 $ 40,067 Total cash, cash equivalents and investments $ 7,031 $ 8,382 $ 8,732 $ 8,384 $ 11,635 $ 12,452 $ 12,574 $ 12,944 $ 14,409 Current liabilities $ 6,145 $ 6,734 $ 6,965 $ 6,800 $ 7,061 $ 11,066 $ 11,721 $ 11,669 $ 12,028 TTM Non-GAAP operating income after tax $ 2,491 $ 2,594 $ 2,691 $ 2,782 $ 2,906 $ 3,057 $ 3,177 $ 3,295 $ 3,418 TTM average total assets 22,938 24,413 25,653 26,704 28,238 30,712 32,808 34,877 37,238 TTM 95% of average cash, cash equivalents and investments 7,707 7,882 7,809 7,601 8,392 9,421 10,218 11,018 12,163 TTM average current liabilities 5,076 5,661 6,150 6,558 6,741 7,725 8,694 9,635 10,680 ROIC 24.5 % 23.9 % 23.0 % 22.2 % 22.2 % 22.5 % 22.9 % 23.2 % 23.7 % 28
29 Q4 13 GAAP and Non-GAAP Guidance Three Months Ending December 31, 2013 (in millions, except per share amounts) GAAP Non-GAAP (a) Revenues $4,500 - $4,600 $4,500 - $4,600 Diluted EPS $ $0.69 $ $0.81 (a) Estimated non-gaap amounts above for the three months ending December 31, 2013, reflect adjustments that exclude the estimated amortization of acquired intangible assets of approximately $95-$105 million and estimated stock-based compensation expense and employer payroll taxes on stock-based compensation expense of approximately $145-$155 million as well as the related tax impact. 29
30 Reconciliation of ebay Enterprise Revenue & Operating Metrics All figures is US$ Millions Q4'12 Merchandise Sales Volume: As reported in ebay Inc. financial statements 1,595 Accounting adjustment (26) Adjusted Merchandise Sales Volume 1,569 Merchandise Sales Volume y/y Growth: As reported in ebay Inc. financial statements 17% Accounting adjustment -2% Adjusted Merchandise Sales Volume 15% Same Store Sales (SSS) y/y Growth: As reported in ebay Inc. financial statements 19% Accounting adjustment -2% Adjusted SSS y/y Growth 17% 30
Q3 2014 Financial Highlights. October 15, 2014
October 15, 2014 This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the appendix
More informationHow To Track A Financial Company
Q2-11 Financial Highlights July 20, 2011 This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation of those measures to the nearest comparable
More informationebay Inc. Reports Second Quarter Results
July 16, 2014 Reports Second Quarter Results Enabled Commerce Volume Growth of 26% Revenue Growth of 13% Company Buys Back $1.7 Billion in Stock GAAP and Non-GAAP EPS Growth of 9% SAN JOSE, Calif.--(BUSINESS
More informationebay Inc. Reports Fourth Quarter and Full Year 2013 Results
January 22, 2014 Reports Fourth Quarter and Full Year 2013 Results Volume Accelerated to 21% for Full Year Revenue Growth 14% for Full Year Non-GAAP Earnings Growth 15% for Full Year Company announces
More information4Q15 Earnings February 2016
4Q15 Earnings February 2016 Forward-Looking Statements The statements contained in this presentation that refer to plans and expectations for the next quarter, the full year or the future are forward-looking
More informationINVESTOR PRESENTATION. June 8, 2015
INVESTOR PRESENTATION June 8, 2015 Forward Looking Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
More informationebay Inc. to Acquire GSI Commerce
ebay Inc. to Acquire GSI Commerce Investor/Analyst Call March 28, 2011 Forward-looking statements This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation
More informationMitel Q3 2015 Earnings Call Presentation. November 5, 2015
Mitel Q3 2015 Earnings Call Presentation November 5, 2015 Safe Harbor Statement Forward Looking Statements This presentation contains projections and other forward-looking statements regarding future events
More informationVCR License Consolidation - Correctly Preparing The Annual Revenue Growth
VMW Q1-2015 Earnings Conference Call 2014 VMware Inc. All rights reserved. Speakers Slide 2 Paul Ziots VP, Investor Relations Pat Gelsinger CEO Carl Eschenbach President & COO Jonathan Chadwick CFO & COO
More informationHistorical Quarterly Financials (Q1-14 through Q2-15)
Historical Quarterly Financials (Q1-14 through Q2-15) July 1, 2015 (updated August 27, 2015) The following presentation has been updated to include financial information related to Q2'15 and weighted average
More information2015 Second Quarter Earnings Conference Call. Dante C. Parrini, Chairman & CEO John P. Jacunski, EVP & CFO August 4, 2015 NYSE: GLT
2015 Second Quarter Earnings Conference Call Dante C. Parrini, Chairman & CEO John P. Jacunski, EVP & CFO August 4, 2015 NYSE: GLT Forward-Looking Statements and Use of Non-GAAP Financial Measures Any
More information1) Substantially all of these team members are employed by our franchisees. 2) ~100% of system-wide sales are franchise sales, which represent sales
This presentation contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking
More informationThird Quarter 2015 Financial Highlights:
DISCOVERY COMMUNICATIONS REPORTS THIRD QUARTER 2015 RESULTS, INCREASES BUYBACK AUTHORIZATION BY $2 BILLION AND ANNOUNCES RESUMPTION OF SHARE REPURCHASES BEGINNING IN FOURTH QUARTER 2015 Third Quarter 2015
More informationElectronic Arts Inc. Q3 FY 2016 Results. January 28, 2016
Electronic Arts Inc. Q3 FY 2016 January 28, 2016 Safe Harbor Statement Please review our risk factors on Form 10-K and Form 10-Q filed with the SEC. Some statements set forth in this document, including
More informationDriving Shareholder Value
Driving Shareholder Value Business Model and Capital Allocation Strategy Wolfgang Nickl CFO, Western Digital September 13, 2012 SAFE HARBOR Forward-Looking Statements This presentation contains forward-looking
More information650-527-5152 650-527-6273 SYMANTEC REPORTS FIRST QUARTER FISCAL YEAR 2016 RESULTS
FOR IMMEDIATE RELEASE MEDIA CONTACT: INVESTOR CONTACT: Kristen Batch Sean Hazlett Symantec Corp. Symantec Corp. 650-527-5152 650-527-6273 kristen_batch@symantec.com sean_hazlett@symantec.com SYMANTEC REPORTS
More informationThird Quarter 2015 Conference Call
Third Quarter 2015 Conference Call E. Scott Santi, Chairman & CEO Michael M. Larsen, Senior Vice President & CFO Aaron H. Hoffman, Vice President, Investor Relations October 21, 2015 Forward Looking Statements
More information617-444-3913 617-274-7130 AKAMAI REPORTS SECOND QUARTER 2015 FINANCIAL RESULTS
FOR IMMEDIATE RELEASE Contacts: Jeff Young Tom Barth Media Relations Investor Relations Akamai Technologies Akamai Technologies 617-444-3913 617-274-7130 jyoung@akamai.com tbarth@akamai.com AKAMAI REPORTS
More informationAlphabet Announces Fourth Quarter and Fiscal Year 2015 Results
Exhibit 99.1 Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results MOUNTAIN VIEW, Calif. February 1, 2016 Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter
More informationW.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9
W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 News Release GRAINGER REPORTS RESULTS FOR THE 2015 FIRST QUARTER Revises 2015 Guidance Quarterly Summary Sales of $2.4 billion, up 2 percent Operating
More information2015 Fourth Quarter and Full Year Results Acquisition of TransFirst
Acquisition of TransFirst January 26, 2016 2016 Total System Services, Inc. All rights reserved worldwide. > CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains statements that
More informationAs of December 31, 2014. As of December 31, 2015. Assets Current assets:
Assets Current assets: Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2014
More informationSecond Quarter 2015 Earnings Call July 22, 2015
Second Quarter 2015 Earnings Call July 22, 2015 Forward-Looking Statements This presentation may contain statements, estimates or projections that constitute forward-looking statements as defined under
More informationVerifone Reports Results for the Second Quarter of Fiscal 2016
Verifone Reports Results for the Second Quarter of Fiscal 2016 SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results
More informationBest Buy Reports Fiscal Fourth Quarter and Full Year 2012 Results
Best Buy Reports Fiscal Fourth Quarter and Full Year 2012 Results Outlines New Transformation Strategy Describes Specific Actions to Improve Business Performance -- Fourth Quarter and Full Year EPS: --
More informationQ4 2009 Financial Results Conference Call Slides
Q4 2009 Financial Results Conference Call Slides This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results could differ materially for a variety
More informationFinancial Translation. Pierre Courduroux Senior Vice President and Chief Financial Officer
Financial Translation Pierre Courduroux Senior Vice President and Chief Financial Officer Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements, such
More informationKellogg Company November 3, 2011
Third Quarter 2011 Financial Results November 3, 2011 1 Forward Looking Statements This presentation contains, or incorporates by reference, forward looking statements with projections concerning, among
More informationSapiens results in the first quarter represent a solid start to achieving our financial targets for the full year.
Sapiens Reports 12% Year-Over-Year Increase in Quarterly Revenue to $41 Million Non-GAAP Quarterly Operating Profit Increased by 58.5% Year-Over-Year Holon, Israel, May 6, 2015 Sapiens International Corporation,
More informationITW Conference Call Third Quarter 2013
ITW Conference Call Third Quarter 2013 October 22, 2013 SOLID GROWTH. STRONG RETURNS. BEST-IN-CLASS OPERATOR. Forward-Looking Statements Safe Harbor Statement This conference call contains forward-looking
More informationFirst Quarter 2016 Conference Call
Conference Call E. Scott Santi, Chairman & CEO Michael M. Larsen, Senior Vice President & CFO Aaron H. Hoffman, Vice President, Investor Relations April 20, Forward Looking Statement Safe Harbor Statement
More informationGAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS
GAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS Fourth Quarter 2014 Earnings Per Share Grew 10 Percent; Up 20 Percent Excluding Foreign Exchange Impact Fiscal Year 2014 Earnings Per Share
More informationSecond Quarter Highlights
Kalamazoo, Michigan - July 23, 2015 - Stryker Corporation (NYSE:SYK) reported operating results for the second quarter of 2015: Second Quarter Highlights Raises full year organic sales growth guidance
More informationCITI REPORTS FIRST QUARTER INCOME OF $5.01 BILLION, EPS OF $1.01 RECORD REVENUES OF $25.5 BILLION, UP 15% INTERNATIONAL REVENUES UP 18%
CITI REPORTS FIRST QUARTER INCOME OF $5.01 BILLION, EPS OF $1.01 RECORD REVENUES OF $25.5 BILLION, UP 15% INTERNATIONAL REVENUES UP 18% RECORD REVENUES AND NET INCOME IN MARKETS & BANKING AND WEALTH MANAGEMENT
More information2015 Fourth Quarter Earnings. January 28, 2016
2015 Fourth Quarter Earnings January 28, 2016 Safe Harbor Statement Forward-Looking Statements Information in this presentation contains forward-looking statements. Any statements about our expectations,
More informationContacts: Investor Relations Evan Black & Kristina Carbonneau 800.493.8219 InvestorRelations@santanderconsumerusa.com
Contacts: Investor Relations Evan Black & Kristina Carbonneau 800.493.8219 InvestorRelations@santanderconsumerusa.com Media Relations Laurie Kight 214.801.6455 LKight@santanderconsumerusa.com Santander
More informationFourth Quarter 2015 Earnings Release February 3, 2016
Fourth Quarter 2015 Earnings Release February 3, 2016 Alexander M. Cutler Forward-looking Statements and Non-GAAP Financial Information This presentation or the comments we make on our call today contain
More informationMorgan Stanley Global Consumer & Retail Conference. November 19, 2014
Morgan Stanley Global Consumer & Retail Conference November 19, 2014 Cautionary Statements Safe Harbor Statement This presentation contains forward-looking statements that are based on management s beliefs
More informationMorgan Stanley Reports First Quarter 2015:
Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports First Quarter 2015: Net Revenues of $9.9 Billion and Earnings per Diluted Share from
More informationEquifax Reports Fourth Quarter and Full Year 2008 Results; Provides First Quarter 2009 Guidance
1550 Peachtree Street, N.W. Atlanta, Georgia 30309 NEWS RELEASE Contact: Jeff Dodge Tim Klein Investor Relations Media Relations (404) 885-8804 (404) 885-8555 jeff.dodge@equifax.com tim.klein@equifax.com
More information1) Substantially all of these team members are employed by our franchisees. 2) 99% of system-wide sales are franchise sales, which represent sales at
This presentation contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking
More informationFOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS; Fourth Quarter Net Sales of $1.065 Billion; Diluted EPS Increases 12% to $3.
FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS; Fourth Quarter Net Sales of $1.065 Billion; Diluted EPS Increases 12% to $3.00 Fiscal Year 2014 Net Sales Increase 8% to $3.510 Billion;
More informationWaste Management Announces Second Quarter Earnings
FOR IMMEDIATE RELEASE Waste Management Announces Second Quarter Earnings Collection and Disposal Income from Operations Grows 3.4% HOUSTON July 26, 2012 Waste Management, Inc. (NYSE: WM) today announced
More informationFOSSIL GROUP, INC. REPORTS THIRD QUARTER 2014 RESULTS. Third Quarter Net Sales Increase 10% to $894 Million; Diluted EPS Increases 24% to $1.
FOSSIL GROUP, INC. REPORTS THIRD QUARTER RESULTS Third Quarter Net Sales Increase 10% to $894 Million; Diluted EPS Increases 24% to $1.96 Updates Full Year Guidance and Provides Fourth Quarter Guidance
More informationPerformance Food Group Company Reports First-Quarter Fiscal 2016 Earnings
NEWS RELEASE For Immediate Release November 4, 2015 Investors: Michael D. Neese VP, Investor Relations (804) 287-8126 michael.neese@pfgc.com Media: Joe Vagi Manager, Corporate Communications (804) 484-7737
More informationFirst Quarter 2015 Earnings Conference Call. April 28, 2015
First Quarter 2015 Earnings Conference Call April 28, 2015 Forward-looking Statements This presentation contains forward-looking statements. These forward-looking statements include statements related
More informationGAP INC. REPORTS THIRD QUARTER RESULTS
GAP INC. REPORTS THIRD QUARTER RESULTS SAN FRANCISCO November 19, 2015 Gap Inc. (NYSE: GPS) today reported results for the third quarter of fiscal year 2015 and updated its full-year fiscal 2015 outlook.
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationMicrosoft Cloud and Hardware Results Drives Fourth Quarter Performance
Microsoft Cloud and Hardware Results Drives Fourth Quarter Performance Commercial cloud annualized revenue run rate now exceeds $8 billion; Computing and Gaming Hardware, including Xbox and Surface, deliver
More informationStaples, Inc. Announces First Quarter 2016 Performance
Media Contact: Mark Cautela 508-253-3832 Investor Contact: Chris Powers/Scott Tilghman 508-253-4632/1487 Staples, Inc. Announces First Quarter 2016 Performance FRAMINGHAM, Mass., May 18, 2016 Staples,
More informationNon-GAAP Supplemental Information Q2 FY 12 Summary: Results in line with preliminary results outlook Key Points:
Q2 FISCAL 2012 PREPARED REMARKS Technology and market leadership, margin growth, commitment to long-term targets Our long-term financial goal is simple: We intend to deliver non-gaap operating margin expansion
More informationBelden. Leading the Way to an Interconnected World. December 2015. 2015 Belden Inc. belden.com @BeldenInc
Belden Leading the Way to an Interconnected World December 2015 2015 Belden Inc. belden.com @BeldenInc Leading The Way to an Interconnected World Delivering highly-engineered signal transmission solutions
More information2012 Southwest IDEAS Investor Conference
2012 Southwest IDEAS Investor Conference November 14, 2012 This presentation contains statements which constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform
More informationBurlington Stores, Inc. Announces Operating Results for the Fourth Quarter and Fiscal Year Ended February 1, 2014
FOR IMMEDIATE RELEASE Burlington Stores, Inc. Announces Operating Results for the Fourth Quarter and Fiscal Year Ended February 1, 2014 Comparable store sales increased 4.0% and 4.7%, for the fourth quarter
More information2015 annual results. 16 th March 2016
2015 annual results 16 th March 2016 Legal disclaimer Certain statements in this document are forward-looking statements. These forward-looking statements speak only as at the date of this document. These
More information650-527-5526 650-527-5523. Symantec Reports Preliminary Fiscal Fourth Quarter 2012 Results
News Release MEDIA CONTACT: INVESTOR CONTACT: Cris Paden Helyn Corcos Symantec Corporation Symantec Corporation 650-527-5526 650-527-5523 cpaden@symantec.com hcorcos@symantec.com Symantec Reports Preliminary
More informationFY15 Supplemental Information January 5, 2016
FY15 Supplemental Information January 5, 2016 Safe Harbor This document contains certain forward-looking statements. These statements are based on the company s current expectations as to the outcome and
More informationSLM CORPORATION SUPPLEMENTAL FINANCIAL INFORMATION FIRST QUARTER 2006 (Dollars in millions, except per share amounts, unless otherwise stated)
SLM CORPORATION SUPPLEMENTAL FINANCIAL INFORMATION FIRST QUARTER 2006 (Dollars in millions, except per share amounts, unless otherwise stated) The following supplemental information should be read in connection
More informationSeptember Quarter 2014 Results
September Quarter Results November 4, Disclaimer This presentation contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation
More informationQ2 2015 Results. July 2015
Q2 2015 Results July 2015 Safe Harbor Forward-Looking Statements. Our presentation today, including the slides contained herein, contains "forwardlooking statements" within the meaning of the Private Securities
More informationMicrosoft Cloud Strength Highlights Second Quarter Results
Microsoft Cloud Strength Highlights Second Quarter Results Commercial cloud annualized revenue run rate exceeds $9.4 billion; Windows 10 active on over 200 million devices REDMOND, Wash. January 28, 2016
More informationReed Elsevier Results 2013 Erik Engstrom, CEO Duncan Palmer, CFO
Reed Elsevier Results Erik Engstrom, CEO Duncan Palmer, CFO FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the US Securities Act of
More informationFourth Quarter 2008 Earnings Acquisition of Communication Services Group Supplemental Information
Fourth Quarter 2008 Earnings Acquisition of Communication Services Group Supplemental Information Forward Looking Statements The statements contained in this release that are not historical facts are forward-looking
More information4Q and FYE 2014 Results Conference Call
A global environmental technology company focused on air pollution control, energy, fluid handling and filtration industries 4Q and FYE 2014 Results Conference Call March 5, 2015 1 Safe Harbor Statement
More informationAugust 11, 2015. Q2 2015 Earnings Presentation
August 11, 2015 fa Q2 2015 Earnings Presentation Disclaimer These slides contain (and the accompanying oral discussion will contain) forward looking statements. All statements other than statements of
More informationThree Months Ended March 31, 2015 Revenues $ 15,420 $ 17,258 Increase in revenues year over year 19% 12%
Exhibit 99.1 Google Inc. Announces First Quarter 2015 Results MOUNTAIN VIEW, Calif. April 23, 2015 - Google Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended. Google s
More informationADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE
FOR IMMEDIATE RELEASE ADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE For the Year, Revenues Rise 11%, 6% Organic; EPS from Continuing Operations up 6% (excluding certain
More informationSECOND QUARTER 2014 EARNINGS CONFERENCE CALL
SECOND QUARTER 2014 EARNINGS CONFERENCE CALL July 31, 2014 SAFE HARBOR Statements in this presentation, including those related to the outlook for 2014 and beyond, the continuing integration of Motorola
More informationSYMANTEC CORPORATION 4Q13 and FY13 RESULTS PREPARED REMARKS
Introduction Helyn Corcos, Vice President Investor Relations Good afternoon and thank you for joining our call to discuss our fourth quarter and fiscal year 2013 results. With me today are Steve Bennett,
More informationHow To Understand How Well-Run A Company Like Aerocean Does Well
3 rd Quarter 2014 Earnings Conference Call Transcript Overview*: BDC reported 3Q14 consolidated revenues of $613.1M, income from continuing operations of $50.4M and diluted EPS from continuing operations
More informationAlly Financial Inc. Auto Securitization - Corporate Overview
Ally Financial Inc. Auto Securitization - Corporate Overview 3Q 2015 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com Forward-Looking Statements and Additional Information
More informationFOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE O-I REPORTS FULL YEAR AND FOURTH QUARTER 2014 RESULTS O-I generates second highest free cash flow in the Company s history PERRYSBURG, Ohio (February 2, 2015) Owens-Illinois, Inc.
More informationELECTRONIC ARTS REPORTS Q3 FY16 FINANCIAL RESULTS
ELECTRONIC ARTS REPORTS Q3 FY16 FINANCIAL RESULTS Delivers Record Quarterly Operating Cash Flow of $889 Million Q3 Non-GAAP Net Revenue and EPS Exceed Guidance Delivers Record Trailing Twelve Month and
More informationWILLIAMS-SONOMA, INC.
WILLIAMS-SONOMA, INC. 3250 Van Ness Avenue San Francisco, CA 94109 CONT: Julie P. Whalen EVP, Chief Financial Officer (415) 616-8524 Gabrielle L. Rabinovitch Vice President, Investor Relations (415) 616-7727
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationManagement s Discussion and Analysis
Management s Discussion and Analysis of Financial Conditions and Results of Operations For the quarter and six months ended June 30, 2012 All figures in US dollars This Interim Management s Discussion
More informationChallenging quarter for Mobile Devices. Daily order rates improving. Free Cash Flow > Net Income. FCT acquisition. Page 3
August 7, 2013 Page 1 Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those
More informationThird Quarter 2015 Earnings Conference Call. 21 August 2015
Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationIntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009
IntercontinentalExchange Fourth Quarter & Year-End 20 Earnings Presentation February 10, 2009 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements
More informationQuarterly Earnings Summary Q3 2015
Quarterly Earnings Summary Q3 2015 Quarterly Revenues Revenues by Revenue Source (1) ($ in millions) Revenues by Geography (2) ($ in millions) $25,000 10 13,754 15,707 15,420 15,955 16,523 18,103 17,258
More informationSanford C. Bernstein Strategic Decisions Conference. May 2014. Tom Lynch Chairman and Chief Executive Officer
Sanford C. Bernstein Strategic Decisions Conference May 2014 Tom Lynch Chairman and Chief Executive Officer FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES Forward-Looking Statements -- This presentation
More informationHP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results
HP Inc. 1501 Page Mill Road Palo Alto, CA 94304 hp.com News Release HP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results Editorial contacts HP Inc. Media Relations MediaRelations@hp.com
More informationCitrix Revises Outlook Due to Accelerated Share Repurchase Program
FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.
More informationMonster Worldwide Reports Third Quarter 2015 Results
Monster Worldwide Reports Third Quarter 2015 Results Third Quarter Financial Highlights: o Company Exceeds Expectations on All Profitability Metrics For the 5th Consecutive Quarter Adjusted EBITDA Including
More information2014 Half-Year Results
2014 Half-Year Results July 30, 2014 Amsterdam Nancy McKinstry Chief Executive Officer and Chairman Kevin Entricken Chief Financial Officer Forward-looking Statements This presentation contains forward-looking
More informationTHIRD QUARTER FINANCIAL RESULTS
Kellogg Company THIRD QUARTER FINANCIAL RESULTS Forward Looking Statements This presentation contains, or incorporates by reference, forward looking statements with projections concerning, among other
More information*See note 4 to our Summary Financial Information table below concerning our current operational and reporting structure
INTERIM REPORT 1(39) Nokia Corporation Interim Report for Q1 2014 FINANCIAL AND OPERATING HIGHLIGHTS First quarter 2014 highlights for continuing operations*: Nokia s non-ifrs diluted EPS in Q1 2014 of
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION NASDAQ: PFSW 2014 PFSweb, Inc. www.pfsweb.com May 2014 CAUTIONS REGARDING FORWARD LOOKING STATEMENTS The matters discussed in this presentation, particularly information regarding
More informationFirst Quarter 2015 Earnings Conference Call. 20 February 2015
First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationLending Club Reports Third Quarter 2015 Results Q3 operating revenue up 104% year-over-year to $115.1 million
Lending Club Reports Third Quarter Results Q3 operating revenue up 104% year-over-year to $115.1 million SAN FRANCISCO October 29, Lending Club (NYSE:LC), the world s largest online marketplace connecting
More informationVMware Reports First Quarter 2015 Results
VMware Reports First Quarter 2015 Results - Year-over-Year Revenue Growth of 11% to $1.51 Billion; up 13% on a constant currency basis - GAAP EPS of $0.45; Non-GAAP EPS of $0.86, an increase of 7% year
More informationINTERACTIVE DATA REPORTS FOURTH-QUARTER AND FULL- YEAR 2014 RESULTS
Press Release INTERACTIVE DATA REPORTS FOURTH-QUARTER AND FULL- YEAR 2014 RESULTS New York February 12, 2015 Interactive Data Corporation today reported its financial results for the fourth quarter and
More informationIntel Reports Second-Quarter Results
Intel Corporation 2200 Mission College Blvd. Santa Clara, CA 95054-1549 CONTACTS: Mark Henninger Amy Kircos Investor Relations Media Relations 408-653-9944 480-552-8803 mark.h.henninger@intel.com amy.kircos@intel.com
More informationHydrogenics Reports Fourth Quarter and Full Year 2015 Results
PRESS RELEASE Hydrogenics Reports Fourth Quarter and Full Year 2015 Results Kolon, Alstom, and China Wins Highlight 2015 Achievements Mississauga, Ontario. March 9, 2016 Hydrogenics Corporation (NASDAQ:
More informationStrength in Microsoft Cloud Highlights Q3 Results
Strength in Microsoft Cloud Highlights Q3 Results Increasing usage of Microsoft Azure, Office 365, Bing and Xbox Live contributes to Q3 growth REDMOND, Wash. April 23, 2015 Microsoft Corp. today announced
More informationBNY Mellon Third Quarter 2015 Financial Highlights
BNY Mellon Third Quarter 205 Financial Highlights October 20, 205 Cautionary Statement A number of statements in our presentations, the accompanying slides and the responses to your questions are forward-looking
More informationCiti Asset Management Conference March 12, 2014
Citi Asset Management Conference March 12, 2014 Joseph A. Sullivan Chief Executive Officer Batterymarch Brandywine Global ClearBridge Investments Legg Mason Global Asset Allocation Legg Mason Global Equities
More informationBurger King Worldwide Reports Third Quarter 2014 Results
Burger King Worldwide Reports Third Quarter 2014 Results MIAMI November 4, 2014 Burger King Worldwide, Inc. (NYSE: BKW) today reported financial results for the third quarter ended September 30, 2014.
More informationBurger King Worldwide Reports Fourth Quarter and Full Year 2013 Results
Burger King Worldwide Reports Fourth Quarter and Full Year 2013 Results MIAMI February 13, 2014 Burger King Worldwide, Inc. (NYSE: BKW) today reported financial results for the fourth quarter and year
More information