电商公司Etsy Inc（NASDAQ:ETSY）第四季度FY24财报发布后，股价下跌。公司报告第四季度销售额同比增长1.2%至8.522亿美元，未达到分析师预期的8.6282亿美元。合并GMS下降6.8%至37亿美元。每股收益1.03美元，高于预期的0.94美元。 Etsy市场的GMS下降8.6%至33亿美元，这是由于消费者可支配产品支出的压力，缩短的假日季节中的年度对比挑战，类别组合，以及高度促销和竞争激烈的零售环境所致。活跃买家减少2.6%至8960万人，每活跃买家的GMS在过去十二个月中下降了3.5%至121美元。 季度毛利增长8.2%至6.344亿美元，毛利率为74.4%。季度运营费用上升1.7%至4.793亿美元。运营收入上升34.4%至1.551亿美元，运营利润率扩大了450个基点至18.2%。调整后的EBITDA提高6.4%至2.5064亿美元，相应的EBITDA利润率扩大了140个基点至29.4%。截至2024年12月31日，公司持有12亿美元的现金和等价物。全年运营现金流总计7.525亿美元。 展望：Etsy预计第一季度FY25的GMS下降率将与全年表现相似。公司预计第一季度调整后的EBITDA利润率在25%至26%之间。 价格走向：截至周三，ETSY股价下跌10.2%至51.48美元。

以上内容来自Benzinga Earnings专栏，原文如下：

Shares of e-commerce company Etsy Inc (NASDAQ:ETSY) are trading lower after the fourth-quarter FY24 earnings result.

The company reported fourth-quarter sales growth of 1.2% year-on-year to $852.2 million, missing the analyst consensus estimate of $862.82 million.

Consolidated GMS declined 6.8% to $3.7 billion. EPS of $1.03 beat the consensus estimate of $0.94.

Etsy marketplace GMS decreased 8.6% to $3.3 billion, a result of pressure on consumer discretionary product spending, challenging year-over-year comparisons in a shortened holiday season, category mix, and a highly promotional and competitive retail environment.

Active buyers declined 2.6% to 89.6 million. GMS per active buyer on a trailing twelve month basis slipped 3.5% to $121.

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Gross profit for the quarter increased 8.2% to $634.4 million with a gross margin of 74.4%. Operating expenses for the quarter rose 1.7% to $479.3 million. Operating income climbed 34.4% to $155.1 million and the operating margin expanded 450 basis points to 18.2%.

Adjusted EBITDA improved 6.4% to $250.64 million and the corresponsding EBITDA margin expanded 140 basis points to 29.4%.

The company held $1.2 billion in cash and equivalents as of December 31, 2024. The operating cash flow for the year totaled $752.5 million.

Outlook: Etsy expects first-quarter FY25 GMS to decline at a rate similar to the year-over-year performance reported for the fourth quarter of FY24.

The company expects first quarter adjusted EBITDA margin of about 25% – 26%.

Price Action: ETSY shares are trading lower by 10.2% at $51.48 at the last check Wednesday.

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