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Etsy Inc (NASDAQ:ETSY, ETR:3E2) shares tumbled almost 10% as the online marketplace's holiday quarter sales came in below estimates. For the fourth quarter, Etsy reported record revenue of $852.2 million, up 1.2% year-over-year but short of the $861.8 million expected by Street analysts.
Etsy reported lower-than-expected sales for the holiday quarter. The company also missed expectations for gross merchandise sales, pointing to "significant headwinds," including dampened consumer spending on discretionary goods.
While the top- and bottom-line numbers for Etsy (ETSY) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Etsy (ETSY) shares slumped on Wednesday morning after the online selling platform's revenue and number of active buyers for the fourth quarter came in lower than analysts had expected.
Bumble (BMBL) plunged after the company missed on earnings and continues to slide on revenue per user. Etsy Inc. (ETSY) saw similar issues in its report due to compressed consumer spending.
Etsy stock tumbled on a fourth quarter sales miss, as the company blamed a mix of headwinds for lowering total spending. The post Etsy Stock Falls On Holiday Quarter Sales Miss As Total Spending And Shoppers Decline appeared first on Investor's Business Daily.
Etsy (ETSY) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.78 per share a year ago.
Online marketplace Etsy (ETSY 0.16%) reported mixed fourth quarter 2024 earnings on Wednesday, Feb. 19. Revenue of $852.2 million was up 1.2% year over year but fell short of the $861.8 million anticipated by analysts.
Etsy's stock was down 7% in premarket action after it came up short of revenue expectations while beating its profit mark.
Etsy missed Wall Street estimates for holiday-quarter revenue and gross merchandise sales, hurt by weak spending on gifts and handcrafted goods, sending shares of the online marketplace down 8% in premarket trading on Wednesday.