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Mar 31, 2022
Etsy Q1 2022 Earnings Report
Etsy's first quarter results demonstrated resilience amidst macroeconomic headwinds, with solid revenue and GMS growth, and continued investments in product and marketing.
Key Takeaways
Etsy, Inc. reported a 5.2% increase in consolidated revenue to $579.3 million and a 3.5% increase in consolidated GMS to $3.3 billion for the first quarter of 2022. Net income was $86.1 million, with diluted earnings per share of $0.60.
Consolidated GMS increased by 3.5% year-over-year to $3.3 billion.
Consolidated revenue grew by 5.2% year-over-year to $579.3 million.
Net income decreased by 40.1% year-over-year to $86.1 million, with diluted earnings per share of $0.60.
Etsy marketplace acquired approximately 7 million new buyers.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Etsy’s guidance for the second quarter of 2022 includes GMS between $2.9B and $3.2B, revenue between $540M and $590M, and an Adjusted EBITDA margin of approximately 25%.
Positive Outlook
- Etsy is focused on delivering value to sellers by attracting new buyers.
- Etsy is increasing buyer purchase frequency.
- Etsy has a world-class team with the creativity and conviction to invest with purpose.
- Etsy believes they offer something different across every brand in their House.
- Etsy sees the size of the prize as enormous.
Challenges Ahead
- Guidance implies a decline of low to high single digits for Etsy marketplace GMS year-over-year.
- Consumers have less disposable income.
- Consumers have many more places to spend their disposable income.
- Macroeconomic uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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