eBay’s Q4 and full year 2012 earnings hit this afternoon, with revenue for the fourth quarter ended December 31, 2012 increasing 18% to $4.0 billion, compared to the same period of 2011. The company reported fourth quarter net income on a GAAP basis of $751 million, or $0.57 per diluted share, and net income on a non-GAAP basis of $927 million, or $0.70 per diluted share.
Analysts expected eBay to post earnings of $0.69 cents a share, on revenue of $3.98 billion.
eBay says the increase in non-GAAP earnings per diluted share was driven by double digit user growth across the portfolio, strong gains in mobile adoption, and accelerating growth in the company’s Marketplaces business, reflecting a 19% increase in U.S. gross merchandise volume (GMV), excluding vehicles.
For the full year, revenue increased 21% to $14.1 billion, compared to 2011. The company reported net income on a GAAP basis of $2.6 billion, or $1.99 per diluted share, and net income on a non-GAAP basis of $3.1 billion, or $2.36 per diluted share. eBay Inc. enabled more than $175 billion of commerce volume (ECV) in 2012, representing growth of 18%. ECV is the total commerce and payment volume across all three business units consisting of Marketplaces GMV, PayPal merchant services net total payment volume and GSI global ecommerce (GeC) merchandise sales.
The theme of the quarter (and the year) for eBay was mobile. eBay and PayPal had a very mobile holiday this year. PayPal said that Black Friday global mobile payments volume were up 193 percent from last year and eBay’s total mobile volume in the U.S. was up 153 percent on the day. Thanksgiving also saw similar jumps in spending for the company.
Beyond just being the holiday shopping season for eBay and PayPal, the fourth quarter also brought a few new product additions to the marketplace, including a redesign. The company expanded its same-day shipping service called eBay No to New York, and partnered with FedEx on shipping for merchants.
At the start of the quarter, PayPal CEO David Marcus continued the company’s reorganization and restructuring. ayPal The company also rolled out a number of payments pilots in international markets, including mobile check-ins and more. Additionally, PayPal debuted a branded cash loading card, called the PayPal My Cash Card, which allows users to load up their PayPal accounts using cash instead of bank transfers.