Etsy Shares Fall After Third-quarter Earnings Report

Etsy shares fell 7% after hours Tuesday after the company reported third-quarter earnings. Etsy reported a net loss of $6.9 million, or a loss of 6 cents per share, compared to a loss of $6.3 million, or a loss of 15 cents per share in the year-earlier period. The FactSet consensus was an adjusted loss per share of 4 cents. Etsy reported revenue of $65.7 million, up from $47.6 million and below the FactSet consensus of $66.4 million. The company reported gross merchandise sales of $568.8 million, up 22% from the third quarter of 2014, which Etsy said was driven by 19.4% year-over-year growth in active sellers and 24.9% in active buyers.