FILE PHOTO: Etsy logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Etsy missed Wall Street estimates for holiday-quarter revenue and gross merchandise sales, hurt by weak spending on gifts and handcrafted goods, sending shares of the online marketplace down 8% in premarket trading on Wednesday.
Sticky inflation and competition from other online shopping platforms such as Amazon.com and PDD Holdings' Temu have hurt Etsy's revenue as consumers opted for lower prices and discounts.
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