ETSY SHARES DROP
-Shares of Etsy, Inc. $ETSY fell 7.7% after the company released its fourth quarter financial results.
- Q4 revenue was 842.3 million, up 4.3% from the prior year, but earnings fell well short of expectations.
- Earnings per share declined to 62 cents, compared to analysts' expectations of 77 cents per share.
- Gross merchandise sales (GMS) showed a decline in early 2024, driven by the competitive retail environment and economic factors.
-Etsy $ETSY expects a slow start to the first quarter and plans to invest in products and marketing.
- Although the first quarter of 2024 will be challenging, the company forecasts revenue growth to accelerate after reaching an expected low.
- Investors are watching closely to see if Etsy $ETSY can handle the competitive environment and rebuild its reputation.
What do you think could be the key to restoring growth and investor confidence?