Etsy marketplace gross merchandise sales reached about $2.6 billion in the second quarter, up 7.5% year over year, on revenue of $668 million and adjusted EBITDA of $195 million, a 29.2% margin. Active buyers held at roughly 87 million on a trailing basis, while trailing GMS per buyer rose 2.8% to $124.
The company completed the sale of Depop to eBay on July 30, bringing in about $1.4 billion in cash, and authorized a new $2 billion share repurchase program. It also announced a restructuring that eliminates roughly 220 roles, about 12% of its workforce and mostly in product and engineering, at an estimated cost of $35 million.
For sellers, Etsy said it is reworking its Star Seller program, improving buyer-seller messaging tools and expanding AI-based buyer profiles that now cover more than 65 million shoppers. It guided third-quarter GMS to $2.53 billion to $2.58 billion and raised its full-year outlook to mid-single-digit growth.
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