Etsy cited “significant headwinds,” such as a decline in consumer spending, as the reason for missing revenue and gross merchandise sales for the fourth quarter.
During Wednesday’s early trading, the stock fell more than 9%.
How the business accomplished it:
Earnings per share: $1.03 as opposed to LSEG’s projected 93 cents
Revenue: $852.2 million as opposed to the $862.8 million that LSEG anticipated The entire amount of items sold on the site, or gross merchandise sales, increased by 6.8% year over year to $3.74 billion.
FactSet predicted that Wall Street would generate $3.8 billion in GMS for the fourth quarter.
Source (CNBC)
