Etsy reported Q3 2024 revenue of $662.4 million, up 4.1% year-over-year, driven by a 3.3% increase in marketplace revenue and 6.2% growth in services revenue. However, net income declined 34.7% to $57.4 million, with net income margin falling to 8.7% from 13.8% last year.Gross merchandise sales (GMS) decreased 4.1% to $2.9 billion, reflecting a challenging macroeconomic environment impacting consumer discretionary spending. Marketing expenses rose 22.1% as Etsy increased investments in digital marketing. The company maintained a strong liquidity position with $1.0 billion in cash and short-term investments.Etsy's active buyer base slightly declined by 0.7% to 96.7 million, while active sellers decreased 3.2% to 8.5 million. The company continues to focus on building sustainable competitive advantages across its marketplaces while navigating economic headwinds and evolving consumer behaviors.

Etsy reported Q3 2024 revenue of $662.4 million, up 4.1% year-over-year, driven by a 3.3% increase in marketplace revenue and 6.2% growth in services revenue. However, net income declined 34.7% to $57.4 million, with net income margin falling to 8.7% from 13.8% last year.Gross merchandise sales (GMS) decreased 4.1% to $2.9 billion, reflecting a challenging macroeconomic environment impacting consumer discretionary spending. Marketing expenses rose 22.1% as Etsy increased investments in digital marketing. The company maintained a strong liquidity position with $1.0 billion in cash and short-term investments.Etsy's active buyer base slightly declined by 0.7% to 96.7 million, while active sellers decreased 3.2% to 8.5 million. The company continues to focus on building sustainable competitive advantages across its marketplaces while navigating economic headwinds and evolving consumer behaviors.