Overview
- Fourth‑quarter revenue rose to $3.67 billion, up about 31% year over year and ahead of estimates, while GMV reached $123.8 billion, topping forecasts with roughly 29%–31% growth.
- Adjusted EPS came in at $0.48, missing consensus, yet gross profit increased to about $1.69 billion and operating income hit $631 million.
- Management projected Q1 2026 revenue growth in the low‑thirties percentage range, well above the roughly 25% analysts had modeled.
- The board approved up to $2 billion in share repurchases to be executed via pre‑arranged algorithmic trading with no set minimums, supported by roughly $2 billion in 2025 free cash flow.
- Shares reversed early gains during trading on the Nasdaq and TSX as analyst calls remained mixed and executives highlighted accelerating AI‑driven shopping activity, including roughly 15x more orders from AI searches since January 2025.