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1 Green Flag for Etsy in 2023, and 1 Red Flag

TheMotleyFool

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1 Green Flag for Etsy in 2023, and 1 Red Flag: https://g.foolcdn.com/editorial/images/753416/woman-making-jewelry-etsy.jpg

There's no question that 2023 has been a rough year for Etsy (NASDAQ: ETSY).

While other e-commerce stocks like Amazon, Shopify, and Wayfair have bounced back from their post-pandemic lows, Etsy has continued to sink even lower. It fell again on its third-quarter earnings report, which came out on Wednesday.

Growth in gross merchandise sales (GMS), or the total value of goods sold on its platform, remained anemic in Q3, up just 1.2% to $3 billion. Revenue rose 7% to $636.3 million, benefiting from earlier fee hikes, and that topped the consensus at $629.8 million.

Source Fool.com