eBay Beats The Street; Q4 Revenue Up 35 Percent To $3.4B, Net Income Up 15 Percent To $789M

eBay just reported fourth quarter and fiscal year 2011 earnings today, which were above analysts expectations. eBay posted revenue of $3.4 billion, up 35 percent from the same quarter in 2010. The company reported fourth quarter net income on a GAAP basis of $2.0 billion, or $1.51 per diluted share, and non-GAAP net income of $788.6 million, or $0.60 per diluted share. Net income was up 15 percent to $789 million. Analysts expected earnings per share of $0.57 on revenue of $3.32 billion. eBay says the year-over-year increase in the fourth quarter GAAP earnings per diluted share was driven primarily by a gain on the sale of the company's remaining investment in Skype. The year-over-year increase in the fourth quarter non-GAAP earnings per diluted share was driven primarily by strong top-line growth and improved productivity partially offset by a higher tax rate.

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