Etsy, Inc. ( ETSY ) reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report.  

The Details: Etsy ( ETSY ) reported quarterly earnings of 45 cents per share, which missed the analyst consensus estimate of 55 cents. Quarterly revenue came in at $662.4 million, which beat the analyst consensus estimate of $652.81 million and is an increase over sales of $636.3 million from the same period last year.

Consolidated GMS was $2.9 billion, down 4.1% year-over-year and down 4.4% on a currency-neutral basis.

Consolidated GMS performance includes a small headwind from the divestiture of Elo7.

Etsy ( ETSY ) marketplace GMS was $2.5 billion, down 6.0% year-over-year and down 6.3% on a currency-neutral basis.

Active buyers decreased 0.4% year-over-year to 91.2 million.

6.4 million buyers were reactivated, up 5.6% from the prior year period, and acquired 5.3 million new buyers.

GMS per active buyer on a trailing 12-month basis for the Etsy ( ETSY ) marketplace declined 3.4% year-over-year to $123 in the third quarter.

The number of habitual buyers was 6.8 million, down 4.8% year-over-year.

U.S. domestic GMS represented 51% of overall GMS and GMS ex-U.S. domestic was 49% of overall GMS.

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“Our third quarter consolidated results came in roughly as anticipated, with some incremental pressure on Etsy ( ETSY ) marketplace year-over-year GMS, healthy growth in revenue and continued strength in our adjusted EBITDA profitability,” said Josh Silverman, Etsy ( ETSY ) CEO.

“We made excellent progress improving Etsy ( ETSY ) marketplace customer experiences — from Gifting, to Quality, a new loyalty program, investing in our app, and more — all of which we believe will drive engagement and frequency over time. While 2024 has been a challenging period for discretionary goods, we are investing with discipline and focus to make Etsy ( ETSY ) even more Etsy ( ETSY ) — which we believe will lift our boat when the tide comes back in again,” Silverman added.

ETSY Price Action: According to Benzinga Pro, Etsy ( ETSY ) shares are up 11.79% after-hours at $53.65 at the time of publication Wednesday.

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