Etsy shares sink after earnings as company says it’s ‘staying nimble’ to tariff uncertainty

Etsy shares plunged on Wednesday after the company posted mixed results for the first quarter. Here's how the company did: Earnings per share: $1.03 adjusted vs. 49 cents expected by LSEG $1.03 adjusted vs. 49 cents expected by LSEG Revenue: $651.2 million vs. $643 million expected by LSEG Shares of Etsy tumbled more than 9% in afternoon trading, as stocks fell broadly after new economic data showed a contraction of 0.3%. The data spurred fears the economy was headed toward a recession from President Donald Trump's abrupt policy shifts, primarily around trade. The e-commerce company reported a net loss of $52.1 million, or a loss of 49 cents per share, compared with a profit of $68 million, or 48 cents per share, a year ago. Analysts surveyed by LSEG were projecting earnings per share of 49 cents. Etsy said the results reflected it taking a $101.7 million impairment charge from the sale of Reverb. The company announced earlier this month it will sell off the musical instrument ma ... Read full article.