(Etsy) Etsy Inc. reported revenue of $528.9 million in the second quarter, up 23.4% compared to the same period last year.
Etsy’s consolidated GMS reached $3.0 billion, up 13% year over year, while marketplace GMS gained 14.2% year over year to $2.8 billion.
On a 12-month basis, GMS per active buyer on the Etsy marketplace expanded by 22% year over year.
Etsy added about 8 million new buyers in the second quarter, almost double the numbers acquired in the second quarter of 2019.
The company ended with a net income of $98.3 million in the quarter, up 1.9% year over year, or diluted earnings per share of $0.68.
Etsy now expects consolidated GMS of $2.9 billion to $3.0 billion or 12.5% year-over-year growth at the midpoint in the third quarter.
Revenue in the third quarter is expected to jump 13.5% year over year to between $500 million and $525 million, with a consolidated EBITDA margin of 25%.
ETSY: NASDAQ is down -13.66%.
