Etsy shares slid more than 12% on Thursday afternoon, a day after the company reported better-than-expected second-quarter results but gave weak guidance for third-quarter revenue and gross merchandise sales, or GMS.
Here's how the company did:Earnings : 45 cents per share, adjusted, vs. 43 cents per share, as expected by analysts, according to Refinitiv.
: 45 cents per share, adjusted, vs. 43 cents per share, as expected by analysts, according to Refinitiv.
Revenue: $629 million vs. $619 million as expected by analysts, according to Refinitiv.
At the midpoint, it fell short of the $3.04 billion expected by a survey of Refinitiv analysts.
Persons:
Etsy, Rachel Glaser, Josh Silverman, Silverman
Organizations:
Refinitiv, GMS, Services
Locations:
Refinitiv, Etsy, Silicon