Earnings

Etsy earnings Q2 21, stock plunges on weak guidance

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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 reported better-than-expected second-quarter results after the bell Wednesday, but it gave guidance for the current quarter that suggests the pandemic-fueled e-commerce boom may be stalling.

The stock slid as much as 14% in extended trading.

Here’s how the company did, compared with expectations of analysts surveyed by Refinitiv:

  • Earnings: 68 cents per share vs. 63 cents per share expected
  • Revenue: $528.9 million vs. $524.7 million expected

Revenue growth slowed to 23.4% year over year during the quarter. That’s a marked deceleration from…



Source cnbc.com

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