Etsy Stock Drops After Mixed Q4 Results, Weak Guidance
Portfolio Pulse from Erica Kollmann
Etsy Inc. (NASDAQ:ETSY) reported mixed Q4 results, missing EPS estimates but beating sales forecasts. The company announced weak Q1 guidance, expecting a low-single-digit decline in GMS year-over-year. Etsy's CEO highlighted over $13 billion in GMS and record annual revenue, with plans to invest in growth initiatives, including a new Gift Mode feature. After-hours, Etsy shares dropped 5.81% to $72.65.
February 21, 2024 | 9:30 pm
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Etsy reported mixed Q4 results with a miss on EPS but a beat on sales, weak Q1 guidance, and a 5.81% drop in after-hours trading.
Etsy's mixed Q4 earnings report and the announcement of weak Q1 guidance likely contributed to the negative investor sentiment, resulting in a 5.81% drop in after-hours trading. The miss on EPS estimates and the forecasted decline in GMS for Q1 are critical factors that could impact short-term stock performance negatively.
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