eBay Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. The company reported that revenue for the fourth quarter ended December 31, 2012 increased 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. 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. The company generated $1.4 billion of operating cash flow and $1.1 billion of free cash flow during the fourth quarter. The company reported income from operations of $874 million, income before income tax of $877 million against $754 million and $2,436 million respectively a year ago. Purchases of property and equipment were $296 million against $292 million a year ago. Non-GAAP operating income was $1,136 million against $972 million a year ago.

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. For the full year the company generated $3.8 billion of operating cash flow and $2.6 billion of free cash flow. The company reported income from operations of $2,888 million, income before income tax of $3,084 million against $2,373 million and $3,910 million respectively a year ago. Purchases of property and equipment were $1,257 million against $963 million a year ago. Non-GAAP operating income was $3,841 million against $3,234 million a year ago.

For the first quarter ending March 31, 2013, the company expects net revenues in the range of $3,650 - $3,750 million with GAAP earnings per diluted share in the range of $0.48 - $0.50 and non-GAAP earnings per diluted share in the range of $0.60 - $0.62.

For the fiscal year ending December 31, 2013, the company expects net revenues in the range of $16,000 - $16,500 million with GAAP earnings per diluted share in the range of $2.23 - $2.29 and non-GAAP earnings per diluted share in the range of $2.70 - $2.75. The company expects free cash flow to be in the range of $3.1 billion to $3.4 billion, CapEx to be in the range of 8% to 10% of revenues and the non-GAAP tax rate to be 18.5% to 19.5%.