Wed, February 19, 2025
[ Wed, Feb 19th 2025 ]: Politico
Ballard links with Italian firm
[ Wed, Feb 19th 2025 ]: sanews
Budget speech postponed
Tue, February 18, 2025

Etsy misses holiday-quarter sales estimates, shares fall

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.
Etsy Inc. reported lower-than-expected sales for the holiday quarter, with gross merchandise sales (GMS) reaching $4 billion, marking a 0.7% decrease from the previous year and falling short of the $4.12 billion that analysts had forecasted. Despite this, Etsy's revenue increased by 4.3% to $842.3 million, surpassing the expected $827.3 million, thanks to higher fees and increased advertising income. However, the company's net income dropped significantly to $83.3 million, or 62 cents per share, from $161.6 million, or $1.17 per share, the year before. Etsy also provided a cautious outlook for the first quarter, expecting GMS to be flat or slightly down year-over-year, and projected a revenue increase of 1% to 3%. This news led to a 10% drop in Etsy's shares during after-hours trading.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/etsy-misses-holiday-quarter-sales-estimates-shares-fall-2025-02-19/ ]