Etsy's second quarter marketplace GMS grew 7.5% as the company announced a restructuring and $2B buyback.

Etsy reported second quarter revenue of $668 million from continuing operations and Etsy marketplace Gross Merchandise Sales (GMS) of $2.6 billion, up 9.3% and 7.5% year-over-year, respectively. In conjunction with its results, the company announced a restructuring to reduce its workforce by approximately 12% and authorized a new $2 billion share repurchase program.

Key Highlights

• Etsy marketplace GMS growth accelerated to 7.5% year-over-year, reaching $2.6 billion, driven by a 2.8% increase in GMS per active buyer to $124.
• The company announced a restructuring plan to reduce its workforce by approximately 220 employees (12%), expecting to incur charges of around $35 million.
• A new $2 billion stock repurchase program was authorized, following $250 million in share repurchases during the quarter.
• Etsy raised its full-year 2026 outlook, now expecting mid-single-digit GMS growth (up from prior) and an Adjusted EBITDA margin of 29-30% (up from 28-30%).