Earnings, Earnings, and (You Guessed It) More Earnings

In this podcast, Motley Fool contributors Tyler Crowe, Matt Frankel, and Jon Quast discuss:

• Earnings results from Walmart, Booking Holdings, Etsy, and Ebay.
• Ebay’s acquisition of Etsy’s Depop business.
• The bull and bear case on Lemonade.
• Klarna‘s big stock drop.

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A full transcript is below.

This podcast was recorded on Feb. 19, 2026.

Tyler Crowe: It’s an earnings extravaganza this time on Motley Fool Money. Welcome to Motley Fool Money. I’m Tyler Crowe, and today I’m joined by longtime Fool contributors Matt Frankel and Jon Quast. We’re deep into earning season with really far too many companies to cover in our 20 or so minutes that we do these daily podcasts. But we’re going to do our best today with a pretty quick round robin look at a lot of companies. We’ll get into Lemonade and Klarna, who both reported today. But before we do that, we’re going to do a quick lightning round with a group of companies that I’m penning here on the pulse of the consumer. We’re going to look at Walmart, Booking Holdings, Etsy, and eBay. We’re going to go as quick as we can. Let’s start with Walmart. As the companies want to do, it beat earnings expectations with earnings at $0.74 a share. That doesn’t include some equity investment stuff that always makes the bottom line a little wonky. The company offered what most of the time is tepid guidance for the upcoming year. But that’s pretty par for the course. It’s done conservative guidance, if you will, for many years in the past, and then just raised it over the years and, typically, exceeds it. Did I miss anything? Was there anything interesting that you guys saw on this one?

Matt Frankel: I have a few things to add. Walmart, they’ve really become a master of omnichannel commerce, and it’s really exceeded even my expectations, and I like the company a lot. The CFO, specifically, called out the speed of the delivery platform as a big driver of their growth. I can tell you firsthand, Walmart’s delivery is fantastic, and it surprises me how efficient it is. But one particular point from the earnings call, that I found interesting, is that the fastest-growing part of Walmart’s market share is households with annual income above $100,000, which is a bit of a concern to me that inflation and tariff pressures are really weighing on Americans. We’re seeing those with higher incomes really start to have to cut back. That was one of the signs we saw before the Great Recession in 2008, and it was why Walmart was the top-performing stock out of the 500 in the S&P during that year. It could be a sign of a weakening economy. That’s something that I’m keeping a close eye on.

Jon Quast: One thing that I want to add here is that, don’t look now, but e-commerce penetration for Walmart just hit 23%. That is an all-time high. It’s a record for the company. When…