Etsy Inc (NASDAQ:ETSY) shares are trading lower by 4.18% to $96.69 Friday morning in sympathy with Amazon.com, Inc. (NASDAQ:AMZN), which fell after the company reported worse-than-expected third-quarter sales results.
As an e-commerce peer to Amazon, Etsy operates a top-10 online marketplace operator. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods.
What Happened?
Amazon reported third-quarter revenue of $127.1 billion, an increase of 15% year-over-year. The total came in shy of a Street estimate of $127. 84 billion according to data from Benzinga Pro.
The company reported earnings per share of 28 cents in the third quarter, beating a Street estimate of 22 cents per share.
Meanwhile, Amazon is guiding for fourth-quarter revenue to be in a range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion…Read More
See Also: What In The World Is Going On With Dogecoin (DOGE) Up 33% Since Last Week?
Etsy has a 52-week high of $307.75 and a 52-week low of $67.01.
