Etsy shares dip 1% on lower-than-expected Q4 revenue guidance

Shares of Etsy Inc. ETSY, -0.42% dipped 1% successful extended trading Wednesday aft the e-commerce institution reported fiscal third-quarter results that exceeded Street expectations but offered fourth-quarter gross guidance that fell shy of expert forecasts. Etsy reported nett income of $89.9 million, oregon 62 cents a share, compared with nett income of $91.8 million, oregon 70 cents a share, successful the year-ago quarter. The company's adjusted nett income was $174.2 million. Revenue improved 18% to $532.4 cardinal from $451.5 cardinal a twelvemonth ago. However, fourth-quarter income were estimated astatine betwixt $660 cardinal and $690 million, abbreviated of the $691 cardinal projected by analysts. Analysts surveyed by FactSet had expected third-quarter nett income of 55 cents a stock connected gross of $519 million. Etsy's banal is up 35% successful 2021. The broader S&P 500 scale SPX, +0.65% has gained 24% this year.