Etsy, Under Pressure, Beats Estimates With More Shopping
- Total value of goods grew 13%, faster than previous period
- Revenue in third quarter topped analysts’ average forecast
The Etsy app.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Etsy Inc. kept its word to investors and eked out a small boost in its growth rate by luring more shoppers and getting them to spend more on its site for unique, small-batch goods.
Gross merchandise sales, the total value of goods that pass through Etsy’s platforms, grew 13 percent to $766.4 million in the third quarter -- bigger than the 12 percent increase in the previous period -- and meeting the company’s August prediction. Investors watch GMS closely to determine whether Etsy can expand its marketplace and compete for dollars with much larger retail and e-commerce brands, including Amazon.com Inc.