An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn.
Victor J. Blue/Bloomberg via Getty Images
Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector is cooling off after a pandemic-fueled boost.
Shares of eBay fell more than 6% in extended trading, while Etsy’s stock plunged as much as 12%.
Here’s how Etsy did, compared with expectations of analysts surveyed by Refinitiv:
- Earnings per share: 60 cents vs. 60 cents expected
- Revenue: $579 million vs. $575 million
And here’s how eBay did, compared with…