- EPS of $1 a share ($0.88 expected)
- Revenue of $550.6 million ($530.4 million expected)
- Gross merchandise sales soared 132% to $3.1 billion, above the higher end of guidance.
- Etsy expects a slowdown in the gross merchandise growth rate to a range of 5% to 15%
- Lowered future Revenue growth in the range of 15% to 25%, or $493 million to $536 million expected (compares with triple-digit growth in the previous four quarters)
More recently Etsy aquired Elo7 — a Brazilian online marketplace specializing in made-to-order products (purchased for $217 million). Etsy’s first move to expand into Latin America.
The ‘Etsy of Brazil’
Etsy also acquired Depop (second-hand fashion app) for $1.6B
The vast majority of its 26M active users spanning 150 countries are under 26 and embracing second hand purchases faster than any other age group.
The deal with Etsy highlights the proliferation of clothing resale platforms as shoppers increasingly turn to second hand goods to save cash and arguably shop more sustainably.