Etsy Inc.
- Etsy Inc declined 9.6% to $86.88 after the company reported second quarter earnings that met analysts' estimates but forecasted revenue in the third quarter below expectations.
Consolidated revenue in the second quarter increased 7% to $629 million from $585.1 million and net income declined 15.3% to $61.9 million from $73.1 million and diluted earnings per share fell to 45 cents from 51 cents a year ago.
The company operates three online platforms, Etsy, Reverb and Depop and reports consolidated results.
Gross merchandise sales inched lower 0.6% to $3.01 billion from $3.02 billion and number of active sellers increased 12.3% to 8.3 million and active buyers rose 2.5% to 96.2 million.
The company guided third quarter gross market sales between $2.95 billion and $3.1 billion and revenue between $610 million and $645 million.
Aug 3, 2023
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