eBay 2012 Annual Report Download - page 94

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eBay Inc.
CONSOLIDATED STATEMENT OF INCOME
The accompanying notes are an integral part of these consolidated financial statements.
F-3
Year Ended December 31,
2012
2011
2010
(In millions, except per share amounts)
Net revenues
$
14,072
$
11,652
$
9,156
Cost of net revenues
4,216
3,461
2,564
Gross profit
9,856
8,191
6,592
Operating expenses:
Sales and marketing
2,913
2,435
1,947
Product development
1,573
1,235
908
General and administrative
1,567
1,364
1,101
Provision for transaction and loan losses
580
517
392
Amortization of acquired intangible assets
335
267
190
Total operating expenses
6,968
5,818
4,538
Income from operations
2,888
2,373
2,054
Interest and other, net
196
1,537
44
Income before income taxes
3,084
3,910
2,098
Provision for income taxes
(475
)
(681
)
(297
)
Net income
$
2,609
$
3,229
$
1,801
Net income per share:
Basic
$
2.02
$
2.50
$
1.38
Diluted
$
1.99
$
2.46
$
1.36
Weighted average shares:
Basic
1,292
1,293
1,306
Diluted
1,313
1,313
1,327