Online crafts marketplace Etsy this afternoon reported Q1 revenue and profit that topped analysts’ expectations, and an outlook for this quarter’s revenue that was higher as well.
However, Etsy forecast its profit margin may be lower this quarter than last, and Etsy shares sank by 7% in late trading .
CEO Josh Silverman remarked that the “incredible momentum” of the preceding year had continued into the quarter
Added Silverman, “We moved the needle by growing our team to deliver an exciting product roadmap aligned with our Right to Win strategy, and are executing a dynamic marketing strategy focused on driving frequency and keeping our buyers engaged.
“In a time when human connection is so vital, Etsy provides a one-of-a-kind community where sellers are empowered to grow their businesses, reaching buyers who value finding items that express their unique identity, while putting their money where their heart is.”
Revenue in the three months ended in March rose by 142%, year over year, to $550.6 million, yielding a net profit of $1 a share.
Analysts had been modeling $530 million and 92 cents per share.
Etsy’s volume of total goods transacted for on its site, the gross merchandise sales, rose 132.3%, year over year, to $3.14 billion, it said.
Etsy’s “active sellers” rose by 67%, it said to 4.7 million, while buyers rose 90% to 90.6 million.
Non-GAAP profit, reported as adjusted Ebitda, in the quarter rose by 234%, year over year, to $184 million, for an Ebitda margin of 33%, which was an expansion of nine percentage points.
For the current quarter, the company sees revenue of $493 million to $536 million, above consensus for $494 million.
- Zebra Technologies hits stride in Q1 as portfolio well timed for post pandemic, digitization
- Coursera Q1 growth strong across consumer, enterprise, degrees
- McAfee, Akamai Q1 reports top expectations
- T-Mobile beats Q1 expectations
- Arista Networks beats Q1 estimates, delivers strong Q2 outlook
- Chegg reaches record 4.8 million subscribers in Q1
- ZoomInfo reports Q1 revenue, EPS above expectations
- Twitter beats Q1 earnings targets, guidance light
- AWS hits $54 billion annual run rate
- Atlassian rising as fiscal Q3 tops expectations
- Citrix misses Q1 earnings targets amid supply chain challenges, business model shift
- Intuit Q1 results beat estimates
- SanDisk's Q1 results mixed but satisfy already reduced outlook
- Intel reports mixed Q1 results with revenue falling short
- Groupon shares climb on Q1 earnings beat
- LinkedIn Q1: Revenue beats street but weak outlook sends stocks plunging
- eBay narrowly beats expectations for Q3
- SAP sales beat expectations
- HP posts mixed Q1 results as revenue slips with weak Q2 outlook
- Red Hat acquires API management firm 3scale, posts Q1 results
- Qualcomm Q1 better than expected, outlook strong
- LinkedIn beats estimates, but stock falls on disappointing sales forecast
- Infosys Q1 profit down, forecasts FY14 revenue growth
Etsy stock falls as Q1 results beat expectations, profit margin forecast to decline have 437 words, post on www.zdnet.com at May 5, 2021. This is cached page on TechNews. If you want remove this page, please contact us.