DivestmentApr 29, 2026, 08:24 AM
ETSY to Sell Depop to eBay for $1.2B; Q1 Revenue +3.1% to $631.3M; EPS $0.89
AI Summary
Etsy, Inc. announced the sale of its Depop fashion resale marketplace to eBay Inc. for $1.2 billion in cash, expected to close by Q3 2026, as it focuses on its core Etsy marketplace. For Q1 2026, revenue from continuing operations increased 3.1% to $631.3 million, and net income from continuing operations was $104.7 million, a significant improvement from a loss in the prior year. The company reported a total net income of $69.7 million, despite a $35.0 million loss from discontinued Depop operations.
Key Highlights
- ETSY to sell Depop to eBay for $1.2 billion in cash, expected to close by Q3 2026.
- Revenue from continuing operations increased 3.1% to $631.3 million in Q1 2026.
- Net income from continuing operations was $104.7 million, up from a $35.1 million loss YoY.
- Diluted EPS from continuing operations was $0.89, compared to $(0.33) YoY.
- Total net income was $69.7 million, a significant improvement from a $52.1 million loss YoY.
- Net loss from discontinued Depop operations was $35.0 million in Q1 2026.
- Net cash provided by operating activities rose to $80.7 million from $49.2 million YoY.
- Repurchased $145.2 million of stock in Q1 2026.
Price Impact
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