ETSY Reports Strong Second Quarter Financials for FY2023
August 9, 2023
☀️Earnings Overview
ETSY ($NASDAQ:ETSY) announced its financial results for the second quarter of FY2023 on June 30th 2023. Total revenue amounted to USD 628.9 million, a 7.5% growth compared to the same period in the prior year. However, net income for the quarter was USD 61.9 million, a decrease of 15.3% compared to the year prior.
Price History
The strong financials were reflected in their stock price as well. ETSY opened at $96.5 on Wednesday and closed at $96.1, representing a 2.6% drop from its previous closing price of 98.6. Despite the slight decrease, investors remain confident in the company’s overall performance and outlook for the future. With a clear outlook for the future, investors are expressing their confidence in the company and expecting to see more impressive results in the coming quarters. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Etsy. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 2.67k | -717.07 | 13.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Etsy. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>More…
| Operations | Investing | Financing |
| 690.22 | -46.27 | -576.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Etsy. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.57k | 3.03k | -3.76 |
Key Ratios Snapshot
Some of the financial key ratios for Etsy are shown below. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.4% | 26.7% | -24.7% |
| FCF Margin | ROE | ROA |
| 24.7% | 82.2% | -16.1% |
Analysis
At GoodWhale, we like to help people make smarter investing decisions by analyzing the fundamentals of companies. Recently we ran a detailed assessment of ETSY and what we found is that it has a high risk rating in terms of both financial and business aspects. Specifically, our assessment revealed 4 risk warnings in the balance sheet, the cash flow statement, non-financial and financial journals. This indicates that there are potential risks that could potentially impact investor returns. We recommend that you take this into account when considering an investment in ETSY. For a more detailed analysis of ETSY’s fundamentals, we invite you to register on our website at GoodWhale.com. We provide comprehensive insights into the company’s financials and business prospects that can help guide your investment decisions. etsy&utm_title=ETSY_Reports_Strong_Second_Quarter_Financials_for_FY2023″>More…
Peers
Etsy Inc is a leading ecommerce company that focuses on selling handmade and vintage items. The company competes with other ecommerce giants such as eBay Inc, Poshmark Inc, and Zalando SE. Etsy has a loyal customer base and a strong brand identity. The company differentiates itself from its competitors by offering unique items that cannot be found elsewhere. Etsy is a publicly traded company that was founded in 2005.
– eBay Inc ($NASDAQ:EBAY)
eBay Inc is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. Today, it is a multibillion-dollar business with operations in about 30 countries.
The company has a market cap of 21.15B as of 2022 and a Return on Equity of -37.67%. eBay’s business model is based on enabling sellers to offer their items for sale on the platform, and buyers to find items they are looking for and purchase them. The company does not own or inventory the items being sold on its platform – instead, it simply facilitates the transaction between buyers and sellers.
eBay makes money by charging sellers a listing fee for each item they list for sale on the platform, as well as a commission on each item that is sold. In addition, the company also generates revenue from advertising and other fees.
– Poshmark Inc ($NASDAQ:POSH)
Poshmark is a social commerce platform for buying and selling fashion. It has a community of over 50 million sellers and buyers. Poshmark was founded in 2011 and is headquartered in Redwood City, California.
Poshmark’s market cap is 1.4B as of 2022. The company has a Return on Equity of -9.05%. Poshmark is a social commerce platform for buying and selling fashion. It has a community of over 50 million sellers and buyers. Poshmark was founded in 2011 and is headquartered in Redwood City, California.
– Zalando SE ($OTCPK:ZLNDY)
Zalando SE is a publicly traded German e-commerce company specializing in fashion, headquartered in Berlin. Founded in 2008, Zalando SE went public in 2014. As of 2022, Zalando SE has a market cap of 5.9B and a Return on Equity of 4.78%.
Zalando SE offers a platform for fashion and lifestyle. The company offers a wide range of products from over 2,000 brands for women, men, and children. The company operates in 15 European countries.
Summary
As of June 30th 2023, Etsy has reported its financial results for the second quarter of FY2023, with total revenue reaching USD 628.9 million, a 7.5% increase year-over-year. Despite the growth in revenue, net income registered at USD 61.9 million, a 15.3% decrease from the same quarter in the prior year. Investors looking to invest in Etsy should take into consideration the higher revenue growth from the previous quarter, but also the drop in net income. Furthermore, analyzing Etsy’s past trends and performance will be highly beneficial for those looking to invest.
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