Etsy's Quarterly Sales Miss Estimates, Sending Shares Tumbling
The Etsy app is displayed for a photograph.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Etsy Inc. reported second-quarter sales that missed analysts’ estimates, as demand for its unique, creative goods failed to pick up in the second quarter after a “soft start” to the year.
The Brooklyn, New York-based company reported revenue rose 37% to $181.1 million, compared with projections for $183 million. Profit excluding some costs rose 43% to $39.7 million, in line with the average estimate of $39.6 million. The shares fell 7% in extended trading.