• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Etsy Q2 Earnings Results Beat, Shares Plunge On Guidance

Paul Balo by Paul Balo
August 3, 2023
in Uncategorised
Share on FacebookShare on Twitter

Etsy, the beloved haven for unique and handcrafted treasures, found itself on a rollercoaster ride as its shares took a tumble of over 12% on a Thursday afternoon. This abrupt descent followed a mixed bag of news stemming from their second-quarter results – a tale of triumph on one hand and tempered forecasts on the other.

In a classic tale of good news and not-so-great news, Etsy managed to outshine expectations in its second-quarter performance. The top and bottom lines gleamed with victory, while the impressive Gross Merchandise Sales (GMS) of $3 billion painted a picture brighter than the $2.98 billion predicted by Refinitiv analysts. Riding high on the sales wave, the services revenue surged by a significant 21% year over year, spurred by dynamic factors like advertising.

However, lurking behind this impressive facade was the emergence of cloudy predictions for the third quarter. Etsy’s crystal ball foretold third-quarter revenue ranging from $610 million to $645 million, a forecast that fell short of the $632 million analyst consensus. Similarly, the GMS projection of $2.95 billion to $3.1 billion grazed the midpoint of the $3.04 billion Refinitiv analyst survey. These projections cast a shadow over Etsy’s otherwise radiant quarterly report.

During a candid discussion with analysts, Rachel Glaser, the Chief Financial Officer of Etsy, hinted at looming challenges. She pointed out the return of student loan payments and the end of child tax credits, both on the horizon, as potential factors that could tighten consumers’ purse strings and, consequently, impact GMS in the coming months.

CEO Josh Silverman echoed a sentiment of grappling with challenging times, acknowledging that the macro environment remains a complex puzzle. Etsy, once the beneficiary of a pandemic-fuelled online shopping surge, now faces headwinds in a world of shifting consumer choices. Despite the uphill battle, Silverman expressed determination in aiding their sellers to secure their fair share amidst tough decisions.

Surprisingly, even the whimsical realm of Etsy isn’t impervious to the enchantment of AI sweeping through Silicon Valley. Silverman revealed that Etsy harbours a select group of AI and machine learning experts, a squad determined to sprinkle technological magic across the platform. These digital wizards are conjuring spells to weave AI into every conceivable customer interaction, from empowering sellers with tools to curating personalized shopping recommendations. Silverman assured that, while technological innovation is embraced, the spirit of Etsy’s enchanting diversity will remain undimmed, promising to tread lightly so that the platform doesn’t lose its vibrant charm.

Etsy’s journey continues, navigating through stormy waters with a blend of past successes and present challenges, all the while keeping a watchful eye on the ever-evolving landscape of consumer preferences and technological marvels.

Related Posts:

  • Etsy Surpasses Analysts' Third-quarter Estimates, Issues Strong Guidance For The Fourth Quarter
    Etsy Surpasses Analysts' Third-quarter Estimates,…
  • Etsy Surpasses Second Quarter Estimates, Shares Soar More Than 15 Percent
    Etsy Surpasses Second Quarter Estimates, Shares Soar…
  • Cisco Issues Impressive First Quarter Earnings Results And Strong Outlook For Fiscal 2023
    Cisco Issues Impressive First Quarter Earnings…
  • Apple-logo
    Apple’s Q4 Earnings Shows Revenue Beat, Tax Charge…
  • Analysts Say Lyft Is Losing Market Share To Uber After The Company Issued Its Third Quarter Earnings Results And Weak Guidance For The Ongoing Quarter
    Analysts Say Lyft Is Losing Market Share To Uber…
  • Amazon Reports Impressive Results, Issues Positive Guidance For The Next Quarter
    Amazon Reports Impressive Results, Issues Positive…
  • Oreo
    Palantir Beats Earnings Expectations and Raises Guidance
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges May 8, 2025
    • Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo May 8, 2025
    • Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier May 8, 2025
    • WhatsApp Developing AI Chat Wallpapers & Message Summaries May 8, 2025
    • Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts May 8, 2025
    • Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know May 8, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (576) artificial intelligence (419) business (482) china (132) cryptocurrency (209) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (709) government (469) instagram (173) internet (466) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (835) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    May 8, 2025
    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    May 8, 2025
    MTN Recovers ₦32 Billion in USSD Fees

    Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier

    May 8, 2025
    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    May 8, 2025
    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    May 8, 2025
    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    May 8, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok