Etsy Q2 Profit Down, But Revenue Increases

(RTTNews) - Etsy, Inc. (ETSY) Wednesday reported net income of $28.84 million or $0.25 per share for the second quarter, lower than 53.01 million or $0.41 per share in the same quarter a year ago, reflecting a non-cash foreign exchange loss of $25.4 million.

On average, 25 analysts expected earnings of $0.49 per share. Analysts' estimates typically exclude special items.

Income from operations increased to $76.43 million from $70.17 million in the prior year.

Revenue for the quarter grew 3.8% to $672.66 million from $647.81 million last year. The consensus estimate was for $647.63 million.