Consolidated results came in at the high end or ahead of guidance for key performance metrics % (Decline) % (Decline) Three Months Ended Six Months Ended Growth Growth June 30, June 30, 2024 2023 2024 2023 Y/Y Y/Y GMS (1) $ 2,949,254 $ 3,012,504 (2.1) % $ 5,935,754 $ 6,113,862 (2.9) % Revenue $ 647,806 $ 628,876 3.0 % $ 1,293,760 $ 1,269,753 1.9 % BROOKLYN, N.Y., July 31, 2024 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and crea ...

2024, it will begin testing its first-ever loyalty program in September, a move designed to boost sluggish sales and draw in infrequent shoppers. Credit: AP Photo/Mark Lennihan, File The New York-based company said select buyers will receive an invitation for the program, which will offer free shipping across the U.S. and access to discounts. Etsy is launching the program—called Etsy Insider—with the aim of reversing a decline in its gross merchandise sales, a measure of the amount of goods sold over a cert ...

Analysts on Wall Street project that Etsy (ETSY) will announce quarterly earnings of $0.46 per share in its forthcoming report, representing a decline of 44.6% year over year. Revenues are projected to reach $632.2 million, increasing 0.5% from the same quarter last year. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. The consensus among analysts is t ...

The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $632.2 million, up 0.5% from the year-ago quarter. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. The Zacks Earnings ESP compares the Most Accu ...

About this content About the publisher We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. Proactive has always been a forward looking and enthusiastic technology adopter. Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, ...

Core Viewpoint - Etsy's Q1 FY24 performance showed minimal revenue growth and a decline in Adjusted EBITDA, but there are signs of potential recovery through buyer reactivation and new initiatives [2][4][18] Financial Performance - In Q1 FY24, Etsy generated $646 million in revenue, a 0.8% year-over-year increase, while Adjusted EBITDA fell 1.4% to $167.9 million, with margins decreasing by 60 basis points to 26% [2] - Gross Merchandise Sales (GMS) declined 3.7% year-over-year, but Active Buyers increased by 1.9% [2] - The company expects GMS to decline in Q2 FY24 in a similar range to Q1, but management anticipates a modest acceleration in the second half of the year [4][14] Competitive Landscape - Competitor Temu has shifted its focus away from the US market, which may benefit Etsy by reducing competition [3] - Etsy has implemented new policies to enhance seller transparency and launched an ad campaign to emphasize the human aspect of its marketplace [3][18] Economic Environment - Declining inflation and potential interest rate cuts by the Federal Reserve could reignite consumer spending, positively impacting Etsy's growth [3][18] - Retail sales have shown moderate growth, particularly in online sales and general merchandise, which may support Etsy's performance [3] Future Outlook - Etsy's take rate increased to 21.6% in Q1 FY24, and the company expects it to remain stable in Q2 [4] - Analysts predict a revenue growth of 1.7% year-over-year for Q2 FY24, with adjusted EPS expected to decline by 33.27% [14][16] - The company aims to maintain Adjusted EBITDA margins around 27.5%-28% in the coming years, with a potential price target of $85, indicating a 37% upside [17][18]

Core Points - Etsy, Inc. plans to release its second quarter 2024 financial results after market close on July 31, 2024 [1] - A video webcast conference call will be held at 5:00 p.m. Eastern Time on the same day to discuss the results, allowing publishing research analysts to ask questions [2] - A replay of the video webcast will be available starting at 8:00 p.m. Eastern Time that evening for at least three months [3] Company Overview - Etsy, Inc. operates two-sided online marketplaces connecting millions of buyers and sellers globally, with a mission to "Keep Commerce Human" [4] - The primary marketplace, Etsy.com, is known for unique and creative goods, providing tools and services to sellers [4] - Etsy's portfolio includes fashion resale marketplace Depop and musical instrument marketplace Reverb, with each marketplace operating independently while sharing expertise [5] - Founded in 2005, Etsy is headquartered in Brooklyn, New York [5]

NEW YORK, NEW YORK - DECEMBER 13: "We're leaning in more than ever to what makes Etsy, Etsy., said ... [+] CEO Josh Silverman. (Photo by Michael M. Santiago/Getty Images) Disappointing Performance Nonetheless, Esty Inc. ended 2023 by laying off 11% of its workforce, impacting some 225 employees. "While the Etsy marketplace is still more than double the size it was in 2019, we needed to acknowledge and adjust for today's realities," Silverman said in a statement. Course Correction While it aims to emphasize ...

Core Insights - Etsy is attempting to reclaim its niche in the eCommerce market by emphasizing its original mission to support artisans and crafters, despite the growing competition from giants like Amazon, Temu, and Shein [1][5] - The company has introduced new "Creativity Standards" to clarify what is allowed on its platform, aiming to attract consumers seeking unique, high-quality products, contrasting with the mass-market strategies of competitors [2][8] - Recent policy updates have broadened product categorization from "handmade" and "vintage" to terms like "made by," "designed by," and "sourced by," which raises questions about the authenticity of products on the platform [6][4] Financial Performance - In Q1 of fiscal 2024, Etsy reported a net income drop of $11.5 million year over year, totaling $63 million, while consolidated gross merchandise sales decreased by 3.7% to $3 billion [9] - The company also underwent an 11% workforce reduction in December, attributed to a challenging macroeconomic environment, indicating ongoing struggles [9] Market Positioning - Etsy's CEO, Josh Silverman, stated that the company will not compete with eCommerce giants on price and speed, suggesting a strategic focus on differentiation rather than direct competition [8][3] - The acceptance of 3D-printed and AI-generated products as part of the marketplace raises concerns about the platform's commitment to its artisanal roots and authenticity [4][5]

Company Overview - Etsy operates a two-sided marketplace platform called Etsy.com and completed its Initial Public Offering (IPO) in 2015 [3] Investment Analysis - Etsy is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B, indicating a solid position among stocks [20] - The company has a Growth Style Score of A, forecasting year-over-year earnings growth of 2.9% for the current fiscal year [13] - For fiscal 2024, the Zacks Consensus Estimate for Etsy's earnings has increased by $0.01 to $2.49 per share, with an average earnings surprise of 32.8% [22] Zacks Rank and Style Scores - The Zacks Rank is a proprietary stock-rating model that employs earnings estimate revisions to assist in building a winning portfolio [16] - Stocks with a 1 (Strong Buy) or 2 (Buy) rank and Style Scores of A or B are considered to have the highest probability of success [5][19] - The VGM Score combines value, growth, and momentum characteristics, helping investors identify stocks with the most attractive profiles [15]