Etsy, Inc. - ETSY STOCK NEWS

Etsy reported its second quarter results for 2022, revealing a consolidated GMS of $3.0 billion, down 0.4% year-over-year but up 2.6% on a currency neutral basis. Revenue grew by 10.6% to $585.1 million, bolstered by a transaction fee increase. However, net income decreased by 25.6% to $73.1 million, largely due to rising employee costs following significant headcount growth. The company's cash assets stood at $1.1 billion, and it repurchased approximately $62 million in stock during the quarter. Looking ahead, Etsy expects third quarter GMS between $2.8B to $3.0B.

Etsy, Inc. (NASDAQ: ETSY) announced leadership changes effective September 12, 2022, naming Kruti Patel Goyal as CEO of its subsidiary Depop, following Maria Raga's resignation. Goyal, previously Chief Product Officer at Etsy, brings 11 years of marketplace experience. Nick Daniel has been promoted to Chief Product Officer at Etsy. CEO Josh Silverman emphasized the importance of nurturing talent and the growing potential of Depop, which now boasts over 26 million users globally.

Etsy, Inc. (Nasdaq: ETSY) is set to release its second quarter financial results on July 27, 2022, after market close. Interested parties can access the press release on the Etsy Investor Relations website. A video webcast conference call will follow at 5:00 p.m. ET to discuss the results, with a replay available later that evening. The company operates two-sided online marketplaces, including Etsy.com, Depop, Reverb, and Elo7, connecting millions of buyers and sellers globally. Etsy continues to focus on empowering communities through its business model.

Etsy has announced the launch of its new Purchase Protection program, effective August 1, 2022, designed to enhance buyer confidence by offering full refunds for qualifying purchases that do not meet expectations. The company will invest over $25 million annually to cover these refunds, ensuring sellers retain their earnings. This initiative aims to improve the shopping experience and foster trust in the Etsy marketplace. Etsy has stated that the program will not affect its Q2 2022 financial guidance.

Etsy, Inc. (Nasdaq: ETSY) announced its participation in two upcoming investor events. On June 2, 2022, company executives will attend the Loop Capital Markets 2022 Investor Conference in New York City. Additionally, Etsy will host a webcasted fireside chat at the Stifel 2022 Cross Sector Insight Conference on June 8, 2022, at 10:55 a.m. ET, with a live replay available on their Investor Relations website. Etsy connects millions of buyers and sellers through its online marketplaces and emphasizes a mission to 'Keep Commerce Human.'

Etsy (Nasdaq: ETSY) announced its participation in several upcoming investor events, including Needham's 17th Annual Technology and Media Conference on May 16, 2022, and the Jefferies Virtual Internet Summit on May 31, 2022. Both events will feature presentations by Etsy executives and will be available via webcast on Etsy's investor relations website. Additionally, executives will attend the Morgan Stanley's 7th Annual Sustainable Futures Conference on May 25, 2022, in New York City. Etsy continues to focus on connecting buyers and sellers globally while promoting its mission to 'Keep Commerce Human.'

Etsy, Inc. (NASDAQ: ETSY) reported its Q1 2022 results, showing consolidated Gross Merchandise Sales (GMS) of $3.3 billion, a 3.5% year-over-year increase. However, Etsy marketplace GMS fell by 2.0% year-over-year to $2.8 billion due to macroeconomic headwinds. Revenue rose by 5.2% to $579.3 million, yet net income declined by 40.1% to $86.1 million, primarily due to increased employee compensation costs. The company continues to invest in product and marketing to enhance buyer engagement, while facing uncertainty in consumer spending and geopolitical events.

Bakkt Holdings, Inc. (NYSE: BKKT) has appointed De’Ana Dow and Jill Simeone to its Board of Directors, expanding its board to ten members. Dow, partner and general counsel at Capitol Counsel, brings extensive expertise in financial markets and regulatory matters, having worked with the Commodity Futures Trading Commission. Simeone, Chief Legal Officer at Etsy (NASDAQ: ETSY), has significant experience in corporate governance and risk management. The addition is expected to enhance Bakkt's strategic initiatives and deepen the board's expertise in financial and retail sectors.

Etsy, Inc. (Nasdaq: ETSY) plans to release its first quarter financial results on May 4, 2022, after market close. The results will be accessible via the Etsy Investor Relations website. A video webcast conference call is scheduled for the same day at 5:00 p.m. ET, where participants can submit questions through a chat window. A replay will be available by 8:00 p.m. ET. Etsy connects millions of buyers and sellers globally, focusing on unique and creative goods through its primary marketplace, Etsy.com, and other platforms like Depop and Reverb.