Etsy misses fourth-quarter revenue estimates
Feb 19 (Reuters) - Online marketplace Etsy missed Wall Street expectations for fourth-quarter revenue on Thursday, indicating cooling demand for personalized gifts and handcrafted goods amid ongoing economic uncertainty.
The company reported fourth-quarter revenue of $881.63 million, compared with analysts' average estimate of $884.90 million, according to data compiled by LSEG.
Shares of the company were up 16% in premarket trading, after it sold its Gen Z-focused fashion resale platform Depop to EBay for nearly $1.2 billion late on Wednesday.
(Reporting by Koyena Das in Bengaluru; Editing by Shilpi Majumdar)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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