---
title: "Etsy Q2 2025 Earnings Preview: GMS Under Macro Pressure"
description: "Etsy is set to report its Q2 2025 earnings on July 30, with consensus estimates of EPS at $0.48 and revenue at $647.4 million, indicating flat revenue and 17% EPS growth. Shares have risen 60% since A"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/250594449.md"
published_at: "2025-07-29T12:09:16.000Z"
---

# Etsy Q2 2025 Earnings Preview: GMS Under Macro Pressure

> Etsy is set to report its Q2 2025 earnings on July 30, with consensus estimates of EPS at $0.48 and revenue at $647.4 million, indicating flat revenue and 17% EPS growth. Shares have risen 60% since April but remain below their 52-week high. Investors are keen to see if Etsy can boost Gross Merchandise Sales after last year's stagnation, with key indicators including active-buyer counts and ad conversion rates. Management aims to maintain a 25% adjusted EBITDA margin, while guidance on cost discipline and ad monetization will be crucial.

Etsy reports before the bell on July 30. Consensus targets point to EPS $0.48 and revenue $647.4 million, implying flat revenue and about 17% EPS growth. Shares are up approximately 60% since the April 2025 low and sit just below the 52-week high of $66.31, though still far from the November 2021 peak of $307.75. The shares have been under pressure since the pandemic, but tariffs on imported goods could renew interest in Etsy's US-made handmade offerings and give the company a second life.

Investors will watch whether Etsy can reignite Gross Merchandise Sales after last year's flat revenue. Signals include active-buyer and active-seller counts (both trending lower), conversion from Offsite Ads, and any change in the 23% take-rate logged in Q1. Management aims to hold adjusted EBITDA margin near the 25% level despite marketing spend and higher payment-processing fees. Guidance on cost discipline and ad monetization will be key. Strong FCF conversion or incremental share-repurchase authorization could support the stock's 40 forward P/E, but a soft GMS print or weaker buyer engagement may outweigh an earnings beat.

### Related Stocks

- [ETSY.US - ETSY](https://longbridge.com/en/quote/ETSY.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.