Etsy's (NASDAQ: ETSY) stock price tumbled after the e-commerce company posted its second-quarter earnings on Wednesday, Aug. 4. Etsy's revenue rose 23% year over year to $528.9 million, beating estimates by $3.2 million. Was Etsy's slowdown that surprising? Read More...
Motley Fool
Why Etsy Fell by 10.8% in July
Recall that the first quarter of 2021 saw revenue surge by 141.5% year over year to $550.6 million, while gross merchandise sales jumped by 132.3% year over year to $3.1 billion. Expectations were elevated as Etsy had logged stellar growth numbers in 2020, and the company had also announced back-to-back acquisitions of Depop and Elo7, a global fashion resale marketplace and a top 10 e-commerce site in Brazil, respectively, in June. Etsy’s growth for the second quarter did come in weaker compared to the previous quarter, with revenue increasing by 23.4% year over year and net income inching up just 1.9% year over year.
