Etsy Earnings: Recommerce Focus and App Momentum Accelerate Core Platform Growth; Shares Overvalued
Etsy's second-quarter results included 7.5% growth in gross merchandise sales, or GMS, to $2.6 billion and revenue of $668 million (up 9.3%). Operating margin for the core marketplace rose 310 basis points to 18.7%, while take rate expanded 50 basis points to 25.9%.