Core Insights - eBay reported revenue of $2.97 billion for the quarter ended December 2025, reflecting a 15% increase year-over-year and surpassing the Zacks Consensus Estimate of $2.88 billion by 2.98% [1] - The company's EPS for the quarter was $1.41, up from $1.25 in the same quarter last year, exceeding the consensus EPS estimate of $1.36 by 3.97% [1] Financial Performance Metrics - Gross Merchandise Volume (GMV) totaled $21.24 billion, exceeding the average analyst estimate of $20.79 billion [4] - U.S. GMV was reported at $10.72 billion, surpassing the five-analyst average estimate of $10.02 billion [4] - International GMV matched the five-analyst average estimate of $10.52 billion [4] - Active Buyers reached 135 million, slightly above the five-analyst average estimate of 134.7 million [4] Stock Performance - eBay's shares have returned -11.9% over the past month, compared to a -1.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Group 1 - Etsy is selling the online secondhand-clothing site Depop to eBay for approximately $1.2 billion [1] - This sale is part of Etsy's strategy to focus more on its main marketplace business [1]

Core Viewpoint - eBay reported quarterly earnings of $1.41 per share, exceeding the Zacks Consensus Estimate of $1.36 per share, and showing an increase from $1.25 per share a year ago, indicating a positive earnings surprise of +3.97% [1] Financial Performance - eBay's revenues for the quarter ended December 2025 were $2.97 billion, surpassing the Zacks Consensus Estimate by 2.98%, and up from $2.58 billion year-over-year [2] - The company has consistently exceeded consensus EPS estimates over the last four quarters [2] Stock Performance and Outlook - eBay shares have declined approximately 8.2% since the beginning of the year, contrasting with the S&P 500's flat performance [3] - The future performance of eBay's stock will largely depend on management's commentary during the earnings call and the earnings outlook [4][6] Earnings Estimates - Current consensus EPS estimate for the upcoming quarter is $1.49 on revenues of $2.79 billion, and for the current fiscal year, it is $5.91 on revenues of $11.59 billion [7] - The trend of estimate revisions for eBay was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Internet - Commerce industry, to which eBay belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of eBay's stock may also be influenced by the overall outlook for the industry [8]

Financial Data and Key Metrics Changes - Gross merchandise volume (GMV) grew nearly 6% to approximately $80 billion globally in 2025, with U.S. GMV growing nearly 10% [4] - Revenue increased by nearly 7% to $11.1 billion, outpacing GMV growth by over 1 percentage point [6] - Non-GAAP operating income grew by roughly 7% to nearly $3.1 billion, and non-GAAP earnings per share increased by 13% to $5.52 [7][24] Business Line Data and Key Metrics Changes - Focus Categories GMV growth accelerated to over 12%, contributing significantly to overall GMV growth [4] - Recommerce accounted for over 40% of GMV on the eBay platform in 2025, driven by investments in pre-owned and refurbished goods [5] - Collectibles category was the largest contributor to GMV growth in Q4, with notable strength in trading cards and other collectibles [8][10] Market Data and Key Metrics Changes - U.S. GMV grew nearly 19% in Q4, benefiting from strength in collectibles and luxury categories [29] - International GMV declined nearly 1% on an organic FX neutral basis, impacted by macroeconomic conditions in Europe [30] - Trailing twelve-month active buyers totaled roughly 135 million in Q4, with U.S. active buyers growing at mid-single-digit rates [30] Company Strategy and Development Direction - The company plans to accelerate investments in strategic growth vectors like eBay Live and vehicles, which are expected to drive future growth [25][26] - The acquisition of Depop for approximately $1.2 billion is aimed at strengthening the C2C value proposition and expanding the company's presence in the fashion market [7][47] - The focus on AI-driven solutions, such as the next generation of Magical Listing and Agentic Search, is expected to enhance user experience and drive sales [18][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying health of the business, citing broad-based strength across strategic priorities [52] - The company anticipates continued strength from focus categories, C2C, and recommerce in 2026, despite potential headwinds from trade policies [41] - Management highlighted the importance of operational discipline and strategic investments to navigate a dynamic macro environment [7][49] Other Important Information - The company exceeded its five-year impact goals, achieving a cumulative positive economic impact of close to $25 billion from the sale of pre-loved goods [22] - The company plans to target share repurchases and dividends totaling between 90%-100% of free cash flow in a normal year [44] - The company is adopting new accounting standards that will impact revenue recognition and operating income reporting starting in 2026 [36] Q&A Session Questions and Answers Question: What has changed to drive the improvement in domestic market performance? - Management noted that years of investment are paying off, with broad-based strength across strategic priorities driving significant GMV growth [52] Question: How much contribution from newer emerging vectors like eBay Live is expected in the guidance for this year? - Management emphasized that while they are excited about new growth vectors, the core business's strength remains the primary driver of growth [54] Question: Are there any changes in the competitive environment in key international markets? - Management acknowledged a divergence between the U.S. and international markets, with Europe facing more challenges due to low consumer confidence [57] Question: What user behavior changes are expected with the rollout of agentic commerce? - Management expressed confidence that the differentiated experiences being built will position the company well in the agentic AI world, enhancing user engagement and reducing transactional friction [62]

eBay (NasdaqGS:EBAY) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Company ParticipantsJamie Iannone - CEOJohn Egbert - Vice President of Investor RelationsPeggy Alford - CFOConference Call ParticipantsColin Sebastian - Equity Research AnalystMichael Morton - Equity Research AnalystNathan Feather - Equity Research AnalystNikhil Devnani - Equity Research AnalystRoss Sandler - Equity Research AnalystShweta Khajuria - Equity Research AnalystTom Champion - Equity Research AnalystOperatorGood day, everyone ...

eBay (NasdaqGS:EBAY) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Speaker6Good day, everyone. My name is Megan, and I will be your conference operator today. At this time, I would like to welcome you to the eBay fourth quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you'd like to ask a question during this time, and if you have joined via the webinar, please use the Raise Hand ...

Market Overview - Major U.S. indices showed a rebound with the S&P 500 up approximately 0.6%, the Dow up about 0.3%, and the Nasdaq composite up around 0.8% [6] - The trading day ended with a total of 317 stocks advancing and 185 declining, indicating a generally positive market sentiment [7] Booking Holdings - Booking Holdings reported earnings per share (EPS) of $48.80, aligning closely with street estimates, and revenue of $6.35 billion, slightly above the expected $6.13 billion [8][9] - Gross bookings reached $43 billion, surpassing the anticipated $41.99 billion, but the stock saw limited movement post-announcement [9] - The company’s CEO emphasized the focus on generative AI as an opportunity rather than a threat, aiming to enhance value for travelers and partners [11][12] - Booking Holdings anticipates first-quarter room nights to increase by 5% to 7% and gross bookings growth in the low double digits, with a forecast of 14% to 16% growth for the first quarter [13] Avis Budget - Avis Budget reported a revenue miss of $2.66 billion against expectations of $2.74 billion, resulting in a net loss attributed to a $518 million asset impairment [15] - The company noted a 21% decrease in per unit fleet costs but provided a full-year adjusted EBITDA forecast of $800 million to $1 billion, with the upper end below street estimates [15] Omnicom - Omnicom's fourth-quarter revenue was reported at $5.5 billion, exceeding the street estimate of $4.52 billion, although adjusted EPS was slightly below expectations at $2.59 [17] Cadence Design Systems - Cadence Design Systems experienced a significant stock increase of approximately 7.6% after reporting fourth-quarter results that beat expectations and provided a positive outlook [18] Wingstop - Wingstop shares rose about 10% after reporting adjusted EPS and domestic comp sales growth for the fourth quarter that exceeded consensus estimates, despite concerns about consumer spending [20] DoorDash - DoorDash's fourth-quarter EPS was reported at $0.48, missing estimates of $0.55, with revenue also falling short of expectations for the first quarter [21][22] eBay - eBay's fourth-quarter net revenue was $2.97 billion, surpassing estimates of $2.87 billion, and the company announced plans to acquire Depop from Etsy for approximately $1.625 billion [23][25] Molson Coors - Molson Coors reported net sales of $2.66 billion, slightly below analyst estimates, but underlying EPS beat expectations at $1.21 per share [26] - Year-over-year net sales declined by about 3%, reflecting ongoing challenges in the beer market [27] Carvana - Carvana's fourth-quarter adjusted EBITDA was reported at $511 million, missing the street estimate of $535.7 million, while revenue was $5.6 billion, exceeding expectations [28]

Q4'25 & FY'25 Business & Financial Highlights February 18, 2026 © 2026 eBay | Business & Financial Highlights Q4'25 & FY'25 Disclosures This presentation contains non -GAAP measures relating to our performance. You can find the reconciliation of these measures, exc ept for FX -Neutral basis, to the nearest comparable GAAP measures in the appendix at the end of this presentation. All growth rates represent year -over - year comparisons, except as other wise noted. For numbers in this presentation provided on ...

Core Insights - The acquisition of Depop is expected to enhance eBay's presence among younger consumers [1] Company Summary - eBay's CEO Jamie Iannone emphasized that adding Depop to its portfolio will significantly increase its reach within the younger demographic [1]

PayPal was spun out of eBay in 2015. Since then:eBay: +217%PayPal: +13% ...