Etsy Inc

ETSY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Etsy Earnings: Marketplace Stabilization Under Way as GMS Returns to Growth; Shares Fairly Valued

Brett Husslein

Apr 29, 2026

Etsy's first-quarter results featured a 5.5% increase in core marketplace gross merchandise sales, or GMS, to $2.5 billion and revenue of $631 million (up 7.6%). Operating margin for the core marketplace jumped 140 basis points to 19%, while take rate expanded 50 basis points to 25.7%.

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Etsy Inc

Etsy Earnings: Marketplace Stabilization Under Way as GMS Returns to Growth; Shares Fairly Valued

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