Etsy reports first-quarter revenue of $645.954 million, which missed the consensus estimate of $646.33 million, according to Benzinga Pro. The company reported quarterly earnings of 48 cents per share, which missed estimates of 49 cents per share.
Traders are treading cautiously in Wednesday’s session, seeking more clarity on the Federal Reserve’s stance with inflation reports exceeding expectations.
With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
E-commerce platform Etsy is reportedly poised for substantial growth, according to Elliott Investment Management managing partner Jesse Cohn. Cohn, speaking at the Sohn Conference in New York, expressed confidence in Etsy's potential for significant multi-year upside.
At the Sohn Conference in New York on Wednesday, Elliott Investment Management managing partner Jesse Cohn said he believes Etsy will generate "significant, multi-year upside."