Etsy (ETSY) reported earnings on Wed 30 Oct 19 (a/h)

** charts after earnings **

 

Etsy (ETSY) stock fell Wednesday as the company reported third-quarter results that beat on revenue and matched estimates on earnings but showed profits are contracting. The Etsy earnings report came after the market close.

Etsy reported adjusted earnings of 12 cents per share on revenue of $197.9 million. Wall Street expected earnings of 12 cents on revenue of $193.5 million. Gross merchandise sales reached 41.2 billion, up 30%

Etsy stock dropped 10%, near 47.50, during after-hours trading on the stock market today.

The decline in Etsy stock came as the company lowered full-year guidance on earnings before interest, tax, depreciation and amortization, or EBITDA. Margin guidance was lowered to a range of 22% to 23% from a prior view of 22% to 24%.

Etsy raised its full-year revenue guidance to a range of $809 million to $815 million. Wall Street expected $805.6 million.

"During the third quarter we launched several transformative initiatives to serve as the building blocks for long-term, sustainable growth," Etsy Chief Executive said Josh Silverman said in written remarks with the Etsy earnings release.