Etsy reported Q2 2024 results with consolidated GMS down 2.1% YoY to $2.9B, while revenue rose 3.0% to $647.8M. Net income declined 14.4% to $53.0M, impacted by a $7.2M retroactive tax expense. Adjusted EBITDA increased 7.9% to $179.4M, with margin expanding to 27.7%.The company highlighted progress in its gifting strategy, with gift-related GMS up 4.1% YoY. Etsy also announced quality initiatives to improve the shopping experience and launched new marketing campaigns. For Q3 2024, Etsy expects GMS to decline in the low single-digit range YoY.Separately, Etsy announced that CFO Rachel Glaser will retire. She is expected to remain in her role until a successor is appointed or April 1, 2025, and then serve as an advisor through June 30, 2025.

Etsy reported Q2 2024 results with consolidated GMS down 2.1% YoY to $2.9B, while revenue rose 3.0% to $647.8M. Net income declined 14.4% to $53.0M, impacted by a $7.2M retroactive tax expense. Adjusted EBITDA increased 7.9% to $179.4M, with margin expanding to 27.7%.The company highlighted progress in its gifting strategy, with gift-related GMS up 4.1% YoY. Etsy also announced quality initiatives to improve the shopping experience and launched new marketing campaigns. For Q3 2024, Etsy expects GMS to decline in the low single-digit range YoY.Separately, Etsy announced that CFO Rachel Glaser will retire. She is expected to remain in her role until a successor is appointed or April 1, 2025, and then serve as an advisor through June 30, 2025.