Etsy Beats Revenue Expectations in Q2
Etsy surpassed Wall Street’s expectations for revenue and gross merchandise sales in the second quarter, as reported on Wednesday. The steady demand for personalized gifts on its online marketplace contributed to this success. Aggressive investments in marketing and advertising also played a role in attracting more customers to the platform.
Events such as Mother’s Day, Father’s Day, and graduation ceremonies further boosted gift sales for the company. Etsy reported a 4.1% year-over-year increase in gifting gross merchandise sales. The number of active buyers on Etsy’s platform grew by 0.4% to 96.6 million, while the number of active sellers increased by 5.9% to 8.8 million in the quarter ending June 30.
