Etsy Inc (NASDAQ:ETSY, ETR:3E2) on Wednesday reported third quarter 2025 earnings that topped Wall Street expectations but revealed a 6.5% decrease in gross merchandise sales (GMS) and a decline in active buyers and sellers.
The online marketplace also announced that its CEO Josh Silverman will step down from his position and move to the role of executive chair at the end of the year.
Silverman will be replaced by Kruti Patel Goyal, Etsy’s president and chief of growth.
Etsy generated adjusted earnings per share (EPS) for the quarter of $0.63 on $678 million in revenue.
Analyst surveyed by LSEG expected adjusted EPS of $0.53 and revenue of $655.3 million.
Etsy shares fell about 9% in pre-market trading on Wednesday.