Two-sided online marketplace operator Etsy, Inc. (ETSY) enjoys robust profitability despite broad macroeconomic concerns. Its trailing-12-month gross profit margin and levered FCF margin of 70.81% and 21.43% are 100.9% and 479.1% higher than the industry averages of 35.25% and 3.70%, respectively.
However, its bottom line performance in the first quarter (ended March 31) is concerning. Its net income declined 13.4% year-over-year to $74.54 million. Also, the company’s net income per share attributable to common shareholders came in at $0.53, down 11.7% year-over-year.
