Etsy (NASDAQ:ETSY) earnings for the e-commerce company’s third quarter of 2019 have ETSY stock down on Wednesday. This is despite its diluted per-share earnings of 12 cents, which matches Wall Street’s estimate. Revenue of $197.95 million is also better than analysts’ estimates of $193.53 million for the period.
Let’s take a deeper dive into the most recent Etsy earnings report.
- Diluted EPS for the quarter is down 20% from 15 cents in the third quarter of 2018.
- Revenue is 31.65% higher YoY than $150.36 million.
- Income from operations for the quarter is sitting at $14.23 million.
- This has it coming in 24.07% lower than $18.74 million from the same time last year.
- The Etsy earnings report also includes a net income of $14.80 million.
- That’s a 29.21% decrease from its net income of $19.89 million in the third quarter of the previous year.
Josh Silverman, CEO of Etsy, says this concerning the Q3 ETSY stock earnings.
“Through innovative solutions such as Etsy Ads and our new free shipping initiative, we are continuing to improve the core marketplace for buyers, while enhancing value for sellers and helping them grow. We are just beginning to see the impact of these initiatives, which we believe further our competitive advantages and will have a more meaningful contribution to our results in 2020 and beyond.”
The Etsy earnings report also has it updating its outlook for 2019. That includes a new revenue range of $809.00 million to $815.00 million. The previous guidance was for revenue between $797.00 million and $809.00 million. Wall Street is expecting revenue of $805.57 million from ETSY in 2019.
ETSY stock was down 8.62% as of Wednesday evening.
As of this writing, William White did not hold a position in any of the aforementioned securities.
