NEW YORK (TheStreet) -- Etsy (ETSY) shares are falling sharply, down 20.8% to $15.23 in morning trading on Wednesday, below the stock's IPO price of $16 following the release of its second quarter earnings results after the closing bell yesterday.
The online marketplace reported a net loss of $6.35 million, double the $3.15 million the company lost a year ago.
A net loss of 7 cents per share was ahead of analysts' consensus 8 cent per share loss expectations.
Revenue for the period increased 44.4% to $61.4 million, ahead of analysts' $59.57 million expectations for the period.
The company said that as of the end of the quarter it had 1.5 million active sellers and 21.7 million active buyers.ETSY data by YCharts