By Davit Kirakosyan
Etsy (NASDAQ:ETSY) shares surged 10% after-hours Wednesday following the company’s reported Q2 results, with EPS of $0.51 coming in better than the consensus estimate of $0.32.
Revenue increased 10.6% year-over-year to $585.1 million, compared to the consensus estimate of $558.47 million. Consolidated GMS declined 0.4% year-over-year (up 2.6% on a currency-neutral basis) to $3.0 billion, impacted by macro headwinds including reopening, pressures on consumer discretionary spending, foreign exchange rate volatility, and ongoing geopolitical events. Etsy marketplace GMS was down 6% year-over-year (up 141% vs. Q2/19) to $2.6 billion.
The company expects Q3/22 revenue to be in the range of $540-575 million, compared to the consensus estimate of $570.27 million. Q3 GMS is expected in the range of $2.8 billion to $3.0 billion and an adjusted EBITDA margin is expected to be approximately 26%.