Welcome to our dedicated page for Etsy news (Ticker: ETSY), a resource for investors and traders seeking the latest updates and insights on Etsy stock.
Etsy, Inc. (NASDAQ: ETSY) operates as a prominent global e-commerce marketplace that connects millions of creative buyers and sellers. Founded in 2005 and headquartered in Brooklyn, New York, Etsy has rapidly grown into a top-tier marketplace in the U.S., U.K., Germany, France, Australia, and Canada. The company specializes in unique, handmade, vintage items, and craft supplies, thereby catering to a niche market of buyers looking for distinctive goods that are not available in mainstream retail.
Etsy's core marketplace, Etsy.com, is its primary platform, where over 96 million buyers interact with 9 million sellers. The platform covers a broad range of categories, including jewelry, home decor, clothing, and art, generating a consolidated gross merchandise volume of $13.2 billion in 2023. Etsy also owns other marketplaces such as Reverb (musical instruments) and Depop (fashion resale), which contribute to its diversified revenue stream.
The company generates revenue through various streams such as listing fees, transaction fees, advertising services, payment processing, and shipping labels. In its latest financial results for Q4 2023, Etsy reported its highest-ever quarterly revenue of $842 million, driven by strong growth in Etsy Ads and payment services. Despite the challenging economic environment, Etsy showcased a 7.0% revenue growth and an adjusted EBITDA margin of 28.6% for the third quarter of 2023, highlighting its robust financial performance.
Recent achievements include the launch of Gift Mode™, an interactive hub aimed at enhancing the gifting experience through a blend of AI and human curation. This initiative is part of Etsy's broader strategy to increase buyer consideration and frequency of purchases. Additionally, Etsy's subsidiary Reverb has improved its user experience with advanced search filters and streamlined checkout processes, while Depop has made strides in performance marketing and product personalization.
Etsy's mission,
Etsy, Inc. reported first-quarter 2024 results with consolidated GMS of $3.0 billion, down 3.7% year-over-year, and consolidated revenue of $646.0 million, up 0.8% year-over-year. Despite challenges in the consumer discretionary products environment, the company remains focused on enhancing customer experiences to drive marketplace growth. Key highlights include active buyers growth, revenue growth primarily from payments revenue, and a disciplined investment approach maintaining profitability. Etsy continues to innovate with initiatives like Gift Mode and improvements to search, aiming to strengthen buyer consideration and trust.
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