The Etsy team has already started leveraging the power of AI and implementing the technology across various customer interactions, including tools for sellers and shopping recommendations.
As Etsy managed to beat the Street estimates for Q4 2022 revenue, ETSY stock price surged by 6.46% in aftermarket hours. In Q1 2023, Etsy is expecting gross merchandise sales (GMS) anywhere in the range of $2.95 billion to $3.15 billion
A keynote in the Q4 resultsis that gross merchandise value increased by 16%. Etsy also confirmed a consolidated gross merchandise value of $4.2 billion, up 16.5%.
Etsy has given modest expectations for its fiscal fourth quarter, and despite this modesty, it still looks to boost its revenue by 10% YoY to a range of $660 million and $690 million.
Etsy stock price is rising amid the coronavirus pandemic. Facemask sales have been a core driver of this growth.
Some companies had their stocks in the news recently as prices changed for different reasons. And one of them is the ongoing coronavirus outbreak.