Why Etsy's Stock Is Trading Lower Today

Etsy Inc ETSY is trading significantly lower after the company announced its second-quarter financial results and issued weak guidance.

Etsy reported quarterly earnings of 68 cents per share, which beat the estimate of 63 cents per share. The company reported quarterly revenue of $528.9 million, which beat the estimate of $524.84 million and represented slowing growth of 23% year over year. 

Etsy expects third-quarter revenue to be in a range of $500 million to $525 million, versus the estimate of $524.91 million.

"We're demonstrating just how many purchase occasions Etsy sellers can meet in truly delightful ways, attracting millions of new buyers and engaging our customers more than ever before," said Josh Silverman, CEO of Etsy.

Price Action: Etsy has traded as high as $251.86 and as low as $103.06 over a 52-week period.

At last check Thursday, the stock was down 12.30% at $177.35.