Etsy Stock Plunges 13% Following Q2 Earnings 
<p><a href='https://financialmodelingprep.com/financial-summary/ETSY'>Etsy (NASDAQ:ETSY)</a> experienced a nearly 13% decline intra-day today after reporting Q2 earnings that fell short of expectations.</p>
<p>The company posted an EPS of 45 cents on revenue of $628.9 million. While the EPS exceeded the Street estimate of 42 cents, the revenue was slightly below the expected $618.6 million. The Gross Merchandise Value (GMV) for the quarter amounted to $3.01 billion, showing a decline of 0.6% year-over-year.</p>
<p>Despite the revenue and profit per share beating expectations, the GMV decrease caused concern among investors. However, Etsy's marketplace still achieved an all-time high in active buyers during the second quarter, which highlights the company's brand relevance and its ability to create opportunities for sellers. </p>
<p>Looking ahead to the current quarter, the company has provided guidance with a midpoint revenue projection of $627.5 million, which falls below the Street estimate of $632.4 million. Additionally, the GMV is projected to be $3.025 billion, again slightly below the Street's estimate of $3.07 billion. </p>

NASDAQ:ETSY