Etsy (ETSY) reported earnings 30 days ago. What's next for the stock?
Etsy operates a differentiated platform supported by network effects. Gone are the days of monster growth that happened during 2020 and 2021.
Etsy's gross merchandise sales growth was once again negative in the latest quarter. As a two-sided platform, Etsy benefits from network effects.
The S&P 500 has been a common choice for passive investors. It has delivered steady returns over the years, especially for investors who withstood market corrections and continued to make regular investments.
Net income fell to $53.0 million due to a $7.2 million retroactive non-income tax expense, impacting margins. Revenue increased 3.0% to $647.8 million, driven by marketplace and payments revenue, aligning with expectations.
ETSY's second-quarter results reflect strength across active sellers and reactivated buyers. Also, accelerating marketplace revenues remains a plus.
As Etsy sees its sales slip, the eCommerce marketplace is gearing up to launch a loyalty program in an effort to drive greater spending and frequency among consumers who demand to be rewarded for their purchases.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Etsy, Inc. (NASDAQ:ETSY ) Q2 2024 Earnings Call Transcript July 31, 2024 5:00 PM ET Company Participants Deb Wasser - VP of IR Josh Silverman - CEO Rachel Glaser - CFO Conference Call Participants Jason Helfstein - Oppenheimer Jian Li - Evercore Nathan Feather - Morgan Stanley Shweta Khajuria - Wolfe Research John Colantuoni - Jefferies Rick Patel - Raymond James Chris Kuntarich - UBS Michael Morton - MoffettNathanson Deb Wasser Hi, everyone, and welcome to Etsy's Q2 2024 Earnings Conference Call. I'm Deb Wasser, VP of Investor Relations.
Although the revenue and EPS for Etsy (ETSY) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Etsy (ETSY) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.83 per share a year ago.
Etsy beat Wall Street expectations for second-quarter revenue and gross merchandise sales on Wednesday, helped by steady demand for personalized gifts at its online marketplace.