Summary by Moomoo AI
Etsy reported Q3 2024 revenue of $662.4 million, up 4.1% YoY, despite consolidated GMS declining 4.1% to $2.9 billion. Net income fell 34.7% to $57.4 million, while adjusted EBITDA margin reached 27.7%. The company maintained strong profitability with healthy growth in both Marketplace and Services segments.The company made significant progress in improving customer experience through various initiatives, including enhanced gifting features, quality standards implementation, and the launch of Etsy Insider loyalty program. The platform strengthened its search visibility and seller tools, while expanding physical gift card distribution to major U.S. retailers.Etsy's Board approved a new $1 billion stock repurchase program. For Q4 2024, the company expects GMS to decline in the low to mid-single digit percentage range YoY, with an anticipated take rate of 22.3% and adjusted EBITDA margin of 28-29%.
