Etsy shares slip on light revenue and forecast decline in gross merchandise volume

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An employee walks past a quilt displaying Etsy Inc. signage at the companys headquarters in the Brooklyn. Shares of Etsy fell more than 4% in extended trading Wednesday after the company released third-quarter results that missed analysts estimates for revenue, and forecasted a decline in gross merchandise sales, or GMS. Etsy said it expects GMS to decline slightly on a year-over-year basis for its fourth quarter. "Theres no doubt that this is an incredibly challenging environment for spending on consumer discretionary items," Etsy CEO Josh Silverman said in a release. Its therefore important to acknowledge that this volatile macro climate will make it challenging for us to grow this quarter.

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