eBay reported financial results for its second quarter ended June 30, 2007. eBay reported record consolidated Q2-07 net revenues of $1.83 billion, representing a growth rate of 30% year over year. GAAP operating income was $457 million, an increase of 47% year over year, and represented 24.9% of net revenues. GAAP net income in Q2-07 increased 50% year over year to $376 million.

The company purchased approximately 10 million shares of its common stock at a total cost of approximately $344 million during the quarter out of its authorized stock repurchase program of up to $2 billion by January 2009.

"The quarter was a very good one for the company, as our portfolio of businesses continued to deliver value to our global community,” said eBay President and CEO, Meg Whitman. "Providing a great user experience has always been critical to our success and will remain part of our ongoing focus as we expand the business further."

In eBay's Marketplaces business, the company said listings were down 6 percent year of year, but those listings generated 12 percent more in GMV. eBay users posted a total of 559 million listings in Q2-07, 6% lower than the 596 million listings posted in Q2-06. Gross Merchandise Volume (GMV) on its Marketplaces business was $14.46 billion in Q2-07, representing a 12% year-over-year increase from the $12.90 billion reported in Q2-06. (See the AuctionBytes blog for more on these numbers.)

Marketplaces net revenues totaled a record $1.29 billion in Q2-07, a growth rate of 26% over the $1.03 billion reported in Q2-06.

PayPal net revenues totaled a record $454 million in Q2-07, a growth rate of 34% over the $339 million reported in Q2-06. Global TPV was $11.69 billion in Q2-07, a 32% increase from the $8.86 billion reported in Q2-06. PayPal Merchant Services contributed $4.92 billion globally to the $11.69 billion in global TPV in Q2-07, representing a 57% increase from the $3.13 billion reported in Q2-06.

Skype net revenues totaled a record $90 million in Q2-07, compared to the $44 million reported in Q2-06. Skype had 220 million registered user accounts at the end of Q2-07, representing a 94% increase from the 113 million registered user accounts at the end of Q2-06.

In a post-earnings call with analysts, eBay executives said there will be more changes on eBay in the next 6 months than in the last several years; they said there will be a major advertising campaign beginning in September in the US, Germany & UK ("Windorphins" was a grassroots teaser campaign for the Fall that generated lots of buzz and lots of talk on blogs, according to CEO Meg Whitman).

eBay talked about the non-GMV part of its Marketplaces business that include global classifieds, Shopping.com, and its growing advertising business, and also discussed its Payments (PayPal) and Communications (Skype) businesses. Whitman also talked about "Social Commerce," where eBay has been a "leader for so many years." The conference call was analysts' first opportunity to ask executives about eBay's plans for Kijiji, which just launched in the US, and what it might mean for Craigslist. Only one analyst asked about eBay's search changes late in the quarter (where eBay briefly pulled its ads from Google).

eBay's Press Release:
http://tinyurl.com/25llw9

Slide presentation to analysts (it may only be available for a short time):
http://investor.ebay.com/index.cfm

Seeking Alpha often publishes transcripts of eBay conference calls:
http://seekingalpha.com