Online marketplace reports lower net income and warns of soft first-quarter revenue
- Etsy’s stock drops 8% on earnings miss and slow start to fiscal year
- Quarterly net income of $83.3 million, down from $109.5 million last year
- Revenue rose 4% to $842.3 million
- Analysts expected net income of 77 cents a share on revenue of $828 million
- Etsy executives caution on soft first-quarter revenue
- Shares of Etsy have fallen 40% this year
Etsy Inc.’s stock fell 8% in extended trading after the company reported a quarterly earnings miss and warned of a slow start to its fiscal year. The online marketplace posted a net income of $83.3 million, down from $109.5 million in the same quarter last year. Revenue increased by 4% to $842.3 million. However, analysts had expected higher net income and revenue. Etsy executives expressed caution about the first-quarter revenue, but believe that results will improve. Despite this, shares of Etsy have fallen by 40% this year.
Factuality Level: 8
Factuality Justification: The article provides factual information about Etsy Inc.’s stock performance, quarterly earnings, revenue, analyst expectations, and company guidance. There are no obvious signs of bias, sensationalism, or inaccuracies in the reporting.
Noise Level: 3
Noise Justification: The article provides relevant information about Etsy Inc.’s stock performance, quarterly earnings, and future outlook. It includes details on net income, revenue, analyst expectations, and company guidance. The article stays on topic and supports its claims with data and quotes from company executives. However, it lacks in-depth analysis, antifragility considerations, and accountability exploration, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Etsy Inc.’s stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Etsy Inc. and its impact on the company’s stock. There is no mention of an extreme event.
Public Companies: Etsy Inc. (ETSY)
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