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Etsy assembles loss in Q2


Brooklyn, N.Y. – Etsy Inc. assembled a growing net loss in the second quarter of fiscal 2015, despite improving sales results. Net loss doubled to $6.4 million from $3.2 million in the second quarter a year earlier.

Higher operating expenses and taxes were largely responsible for Etsy’s net loss, offsetting a favorable currency exchange gain. Revenue fared much better, rising 44% to $61.36 million from $42.5 million. Marketplace revenue grew 23% to $30.47 million from $24.78 million, while seller services revenue skyrocketed 80% to $29.77 million from $16.59 million. Mobile visits increased from 53% to 60%, and the percentage of gross merchandise sales attributable to mobile grew to 43% from 36%.

“We succeed when our sellers succeed, and we believe our reputation as an authentic, trusted marketplace is the foundation for the long-term value we expect to create for our entire community, including our investors, for decades to come,” said Chad Dickerson, Etsy, Inc. CEO and chairman.

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