eBay Inc. (NASDAQ:EBAY) will release earnings for its fourth quarter after the closing bell on Wednesday, Feb. 18.Analysts expect the company to report quarterly earnings of $1.35 per share. That’s up from $1.25 per share in the year-ago period. The consensus estimate for eBay's quarterly revenue is $2.87 billion (it reported $2.58 billion last year), according to Benzinga Pro.Ahead of quarterly earnings, UBS analyst Stephen Ju, on Tuesday, maintained a Neutral rating on eBay and lowered the price target fr ...

Key Takeaways eBay is set to report Q4 2025 results with revenues guided to $2.83-$2.89B.EBAY expects GMV of $20.5-$20.9B, aided by marketplace upgrades and key partnerships.eBay sees mid-20% non-GAAP margins, reflecting higher costs and strategic investments.eBay (EBAY) is scheduled to report its fourth-quarter 2025 results on Feb. 18, 2026.For the fourth quarter, eBay expects total revenues between $2.83 billion and $2.89 billion. On an FX-neutral basis, year-over-year revenue growth is anticipated to be ...

Core Insights - eBay is transitioning from a traditional marketplace to a high-margin advertising platform, indicating a shift in its business model and market perception [1][7] - The upcoming quarterly results are expected to show earnings per share of approximately $1.35 and revenue around $2.87 billion, reflecting continued growth despite economic challenges [2][3] Financial Performance - In the most recent quarter, eBay's revenue increased by about 9% year over year, while gross merchandise volume (GMV) rose by 8%, demonstrating resilience in its marketplace operations [3] - Advertising revenue reached $525 million in the third quarter, accounting for 2.6% of GMV, highlighting the rapid growth of eBay's advertising business [5] Business Model Evolution - eBay's advertising segment is growing faster than its core business, which enhances the quality of its earnings as it does not rely on inventory or shipping [5][7] - The company is evolving into a monetization platform that leverages AI-driven tools and promoted listings to maximize transaction value [7] Investment Considerations - The stock is viewed as a long-term investment opportunity rather than a short-term trade, with consistent share buybacks and dividends contributing to its appeal as a cash-generating platform [8] - Potential investors are advised to consider buying eBay only if they are prepared to hold for years, focusing on the long-term impact of its advertising and platform shift [10]

The fourth quarter earnings season is entering the final stretch. As of Feb. 13, 74% of S&P 500 (^GSPC) companies have reported results, according to FactSet data, and blended earnings growth — meaning a combination of reported results from companies and projected profits from analysts — stands at 13.2%. If that growth rate holds, it would represent the 10th consecutive quarter of annual earnings growth for the index and the fifth consecutive quarter of double-digit growth. Heading into the reporting p ...

Core Insights - Lindsell Train Ltd reported an equity portfolio valued at approximately $4.1–4.2 billion, maintaining a focus on a limited number of dominant consumer, media, and financial franchises [1][10] - The portfolio is highly concentrated, with the top 10 holdings accounting for over 90% of total assets, reflecting a belief in long-term brand power and cash generation [2][10] Portfolio Overview - Total Portfolio Value: ~$4.1–4.2 billion [2] - Top 10 Holdings: - TKO Group Holdings: ~$597 million (14.6%) - Alphabet (Class A): ~$543 million (13.3%) - Walt Disney: ~$427 million (10.5%) - Intuit: ~$418 million (10.3%) - Thermo Fisher Scientific: ~$397 million (9.7%) - Fair Isaac: ~$334 million (8.2%) - Mondelez International: ~$314 million (7.7%) - PepsiCo: ~$309 million (7.6%) - PayPal: ~$301 million (7.4%) - eBay: ~$223 million (5.5%) [2] Changes in Holdings - Notable Add: Alphabet (Class A) saw an increase of ~206,000 shares (+10.1% QoQ), reinforcing its role as a core long-term investment [3] - Major Trims: - TKO Group Holdings reduced by ~219,000 shares (-6.9% QoQ) - Walt Disney trimmed by ~361,000 shares (-8.8% QoQ) - Intuit reduced by ~54,000 shares (-8.1% QoQ) - Mondelez International trimmed by ~681,000 shares (-11.9% QoQ) - PepsiCo reduced by ~226,000 shares (-9.3% QoQ) - eBay reduced by ~830,000 shares (-25.3% QoQ) [8] Investment Strategy - The portfolio reflects a quality growth style focused on brand and intellectual property-led businesses, with a very long-term holding period and low turnover [9][10] - The strategy emphasizes disciplined capital allocation and patient ownership of high-return businesses, with modest rebalancing to enhance long-term compounding [11]

Core Insights - Retail marketplaces like Amazon and eBay are facing challenges from artificial intelligence shopping robots that are designed for human interaction [1][3] - The evolution of consumer shopping agents is expected to transition from product research to fully autonomous transactions, potentially disrupting traditional e-commerce models [2][3] Group 1: Market Dynamics - Merchants pay fees for access to large consumer bases and various services, including shipping and marketing [2] - The introduction of large language models (LLMs) in agentic commerce could lead to a scenario where consumers interact directly with these models, bypassing traditional marketplaces [3] Group 2: Company Responses - eBay has updated its user agreement to prohibit the use of agentic commerce tools without permission, aiming to maintain a predictable and safe interaction environment [4][5] - This update is intended to protect buyers and sellers while ensuring a reliable experience on the platform [5] Group 3: Risks and Concerns - The rise of agentic commerce presents a dual threat: potential erosion of customer relationships and increased fraud risk if payment decisions are outsourced to external systems [6][7] - Companies may lose brand exposure and customer loyalty when transactions occur within AI interfaces, impacting customer lifetime value [7]

Core Insights - eBay's stock has seen significant trading activity among institutional investors, with a notable increase in positions by several firms during the second quarter [1] - The company reported strong quarterly earnings, exceeding consensus estimates for both earnings per share and revenue, indicating a positive growth trajectory [2] - Insider trading activity shows a mix of selling by senior executives, which may reflect individual strategies rather than company performance [3] Institutional Investment - HB Wealth Management LLC increased its stake in eBay by 5.1%, acquiring 814 additional shares, bringing its total to 16,700 shares valued at $1.244 million [1] - Mirae Asset Global Investments Co. Ltd. raised its position by 35.3%, now holding 139,739 shares worth $10.405 million after purchasing 36,481 shares [1] - Institutional investors and hedge funds collectively own 87.48% of eBay's stock, indicating strong institutional confidence in the company [1] Financial Performance - eBay reported earnings per share of $1.36 for the latest quarter, surpassing the consensus estimate of $1.33 by $0.03 [2] - The company's revenue for the quarter was $2.82 billion, up 9.5% year-over-year, compared to the previous year's revenue [2] - eBay's return on equity stood at 41.94%, with a net margin of 20.37%, reflecting strong profitability metrics [2] Stock Performance and Analyst Ratings - eBay's stock opened at $91.22, with a market capitalization of $41.23 billion and a P/E ratio of 19.83 [2] - Analysts have upgraded eBay's stock rating, with Barclays raising the price target from $92.00 to $105.00 and BMO Capital Markets increasing it from $102.00 to $107.00 [4] - The consensus rating for eBay is currently "Hold," with an average target price of $95.66 based on analyst evaluations [4] Insider Activity - Senior Vice President Jordan Douglas Bradle Sweetnam sold 35,305 shares at an average price of $81.54, resulting in a 92.50% decrease in his position [3] - Another senior vice president, Julie A. Loeger, sold 2,896 shares at an average price of $82.44, reflecting a 4.92% decrease in her ownership [3] - In total, insiders sold 53,675 shares valued at $4.388 million in the last quarter, indicating a trend of selling among company executives [3]

Core Viewpoint - eBay Inc. has transformed from a small auction site into a global commercial giant, currently valued at $43 billion, with a strong marketplace platform and mobile app suite [1] Financial Performance - eBay's stock has increased by 41.6% over the past 52 weeks and 9.3% year-to-date, outperforming the S&P 500 Index's 15% return and 1.9% increase in 2026 [2] - The company has also outperformed the State Street Consumer Discretionary Select Sector SPDR ETF, which rose by 5.2% over the past year and 2% this year [3] Business Growth and Strategy - eBay has seen a steady acceleration in Gross Merchandise Volume, indicating healthier marketplace activity, alongside meaningful improvements in revenue and earnings trends [4] - The company is focusing on categories where it has pricing power and loyal users, which has positively influenced investor sentiment [4] Strategic Acquisitions - The announcement of eBay's agreement to acquire Tise, a consumer-to-consumer social marketplace in Norway, has strengthened its global C2C presence and engagement with younger buyers [5] Earnings Outlook - For the fiscal year ending December 2025, analysts expect eBay to report a 12.5% year-over-year growth in adjusted EPS to $4.42, with a strong earnings surprise history [6] - eBay holds a consensus "Moderate Buy" rating from analysts, with a distribution of opinions including nine "Strong Buys," two "Moderate Buys," 21 "Holds," one "Moderate Sell," and one "Strong Sell" [6]

Core Viewpoint - eBay is implementing a ban on third-party "buy-for-me" agents and AI chatbots from interacting with its platform without consent, effective February 20, as part of an update to its terms of service [2][3]. Group 1: eBay's Policy Changes - The new terms explicitly prohibit the use of any automated means, including buy-for-me agents and AI-driven bots, to place orders without human review [2]. - This update follows a previous version of the agreement that did not specifically mention AI agents, indicating a shift in eBay's approach to automated interactions [3]. Group 2: Industry Context - The report highlights a broader trend in eCommerce where companies like Amazon are also blocking third-party AI shopping tools to protect their direct relationships with consumers and control over data [4]. - Amazon has taken legal action against AI agents that conduct purchases on behalf of users, emphasizing the competitive landscape regarding AI in retail [4]. Group 3: AI Investments - Both eBay and Amazon are investing significantly in their own AI technologies, with eBay introducing an AI assistant for messaging to enhance customer interactions [5]. - eBay described the previous year as "transformative" for its AI initiatives, deploying new tools aimed at improving the experience for both sellers and buyers [6].

Core Viewpoint - The comparison between TripAdvisor (TRIP) and eBay (EBAY) indicates that TRIP is currently more attractive to value investors due to its stronger earnings estimate revisions and more favorable valuation metrics [1][3][7]. Valuation Metrics - TripAdvisor has a forward P/E ratio of 7.68, significantly lower than eBay's forward P/E of 15.89, suggesting that TRIP is undervalued relative to EBAY [5]. - The PEG ratio for TRIP is 0.67, while eBay's PEG ratio is 1.77, indicating that TRIP has a better growth-to-price ratio [5]. - TripAdvisor's P/B ratio stands at 2.25, compared to eBay's P/B of 8.99, further highlighting TRIP's more attractive valuation [6]. Analyst Outlook - TripAdvisor holds a Zacks Rank of 2 (Buy), reflecting a more positive earnings estimate revision trend compared to eBay, which has a Zacks Rank of 3 (Hold) [3]. - The stronger estimate revision activity for TRIP suggests an improving analyst outlook, making it a more favorable option for value investors [7]. Value Grades - TripAdvisor has received a Value grade of A, while eBay has a Value grade of C, indicating that TRIP is perceived as a better value investment based on key fundamental metrics [6].