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Etsy, Inc. (ETSY) reported fourth-quarter 2023 earnings of 62 cents per share, which declined 19.5% year over year.In the reported quarter, the company’s net income, totaling $83.3 million, was hurt by restructuring and other exit costs of $27 million.The adjusted bottom-line figure was 78 cents per share, which was in line with the Zacks Consensus Estimate.Revenues advanced 4.3% year over year to $842.32 million. The figure beat the Zacks Consensus Estimate by 1.8%.Top-line growth was driven by acceleratin ...

Etsy Inc (NASDAQ:ETSY) is sliding after earnings, down 7.4% at $71.39 at last check. The online marketplace announced fourth-quarter earnings of 78 cents per share, in line with analyst expectations, and higher-than-anticipated revenue. However, the company also issued a weak first-quarter sales forecast due to weak demand. No fewer than 11 analysts cut their price targets after the event, though three chimed in with hikes. Since last February, ETSY is down 44.8%. The stock has had a fairly volatile start t ...

Etsy (NASDAQ: ETSY) stock price nosedived in the pre-market session after the e-commerce company published weak financial results. It plunged by more than 9% and reached a low of $70, which was lower than the December high of $90.Etsy growth is waningCopy link to sectionEtsy has been a company in trouble in the past two years as its stock crashed by over 77% from its all-time high. This plunge happened as the spectacular growth it had during the COVID-19 pandemic waned.  Further, the company has little room ...

Financial Data and Key Metrics Changes - Consolidated GMS for 2023 was $13.2 billion, roughly flat compared to 2022, while revenue reached a record $2.7 billion, up about 7% [37] - Adjusted EBITDA was approximately $754 million, with free cash flow at about $666 million, indicating strong profitability and cash generation [37][88] - Fourth quarter consolidated adjusted EBITDA margin was 28%, slightly down from the previous year due to increased marketing spend and refund costs [56] Business Line Data and Key Metrics Changes - Etsy marketplace GMS decreased 1.4% year-over-year to $3.6 billion in Q4, with headwinds from consumer discretionary spending and competition [113] - Etsy Ads contributed positively to revenue growth, with improvements in search relevancy leading to higher conversion rates [13][109] - Reverb showed GMS growth in Q4, primarily due to a focus on used and outlet inventory, indicating a recovery in the musical instruments sector [51] Market Data and Key Metrics Changes - International markets saw a 4% year-over-year increase in GMS, with notable growth in the UK, Netherlands, Switzerland, and Austria [86] - Active buyers reached a record 92 million, up 3% year-over-year, with significant growth in both U.S. and international markets [60] - The number of repeat buyers grew 4% year-over-year to 37 million, indicating stable buyer engagement [87] Company Strategy and Development Direction - The company is focusing on enhancing buyer consideration and frequency through initiatives like Gift Mode, aiming to position Etsy as a go-to platform for gifting [45][77] - A disciplined investment approach is being maintained to ensure profitability while pursuing growth opportunities, particularly in international markets [36][72] - The company plans to introduce a buyer loyalty program to encourage repeat purchases and enhance customer engagement [71][98] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment, with low consumer confidence impacting discretionary spending [92][136] - There is optimism about returning to growth, with expectations that product and marketing investments will yield positive results in the latter half of Q1 2024 [94][126] - The company believes that gifting represents a significant growth opportunity, with a potential market size of $200 billion in the U.S. alone [77][79] Other Important Information - The company has implemented a seller onboarding fee to enhance marketplace security and quality [93] - Consolidated marketing spend increased 7% year-over-year, with a focus on brand awareness and specific purchase occasions [84] - The divestiture of Elo7 is noted as a factor affecting year-over-year comparisons, with a modest impact on margins [110] Q&A Session Summary Question: What is the GMS outlook for 2024? - Management expressed aspirations for positive growth, emphasizing the importance of consideration initiatives like Gift Mode to drive buyer engagement [125][126] Question: Can you clarify the Q1 guidance and expected improvements? - Management indicated a mid-single-digit decline in Q1 but expects improvements as the quarter progresses due to marketing and product initiatives [129][130] Question: How is the competitive environment affecting performance? - Management noted that consumer behavior is currently focused on finding the cheapest options, impacting conversion rates across the industry [136]

Etsy (ETSY) reported $842.32 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.4%. EPS of $0.78 for the same period compares to $0.77 a year ago.The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $827.4 million. With the consensus EPS estimate being $0.78, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations t ...

Etsy (ETSY) came out with quarterly earnings of $0.78 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this online crafts marketplace would post earnings of $0.49 per share when it actually produced earnings of $0.64, delivering a surprise of 30.61%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Etsy, which belongs to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-K __________________________ ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-36911 _________________________ ETSY, INC. (Exact name of registrant as specified in its ch ...

Etsy, Inc. Reports Fourth Quarter and Full Year 2023 Results Highest-ever quarterly revenue achieved in Q4 23 Brooklyn, NY - February 21, 2024 - Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced financial results for its fourth quarter and full year ended December 31, 2023. "Etsy delivered over $13 billion in consolidated GMS and our highest-ever annual revenue," said Josh Silverman, E ...

The stock market’s strong rally in 2023 caused many investors to forget about the tumultuous times in 2022. While the stock market is experiencing strong momentum at the start of the year, thanks to artificial intelligence and other factors, not everything has gone up in bullish markets.A few stocks missed out on the 2023 rally and are likely to miss out this year as well. These stocks are at risk of losing value in the upcoming months. Investors may want to be cautious with these three particular stocks to ...