Etsy Stock Trades Below IPO Price Despite Earnings Beat

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 Chart ETSY data by YCharts

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