Etsy's second quarter revenue exceeds $500 million! The number of active buyers has exceeded 90 million

It is learned that Etsy recently released its second quarter financial report. The following is a summary of the second quarter performance:

• Revenue increased 23% year-over-year to $529 million, and net income was $98.2 million, in line with expectations;

• Gross merchandise sales (GMS) increased 13% year-over-year to $3 billion; Etsy's independent marketplace (GMS) increased 14% year-over-year to $2.8 billion;

• The number of active buyers increased 50% year-over-year to 90.4 million, up from 60.2 million in the second quarter of 2020, but down from 90.7 million in the first quarter;

• The number of new buyers increased by 8 million, twice the same period in 2019. Etsy’s core buyer base is currently “Generation X” and “Millennial” women;

• GMS per active buyer for the past 12 months increased 22% year-over-year to $129, another all-time high for this important metric.

Looking ahead, Etsy expects third-quarter 2021 revenue of $500 million to $525 million, within analysts' revenue estimate of $524.9 million.

It is learned that in the second quarter, Etsy made two acquisitions to expand its influence in the Latin American market. For example, on June 2, Etsy acquired the global fashion resale market Depop for US$1.6 billion. At the end of June, Etsy signed an agreement to acquire Brazilian e-commerce Elo7 for US$217 million in cash.

Editor ✎ Estella /

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