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Etsy stock rises on earnings beat, Best Buy stock declines on weakened guidance

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Yahoo Finance Live examines Etsy and Best Buy's stock in after-hours trading.

Video Transcript

- A couple of other big movers that we are watching. First, let's pull up Etsy because Etsy actually beating on the top and bottom lines. You can see the reaction in the stock right now with shares up just about 15%. EPS of $0.51 revenue, up 11% year over year. Gross merchandise sales of $3 billion. That was largely in line with expectations.

Active sellers and buyers, a slight miss there. Although, it looks like the Street is looking past that. Sellers at 7.4 million, up 41% year over year. Active buyers just about 93 billion. That's up just around 4%-- 93 million, up about 4% here from-- on a year over year basis.

Let's take a look at Best Buy. Shares off just about 3%. The company cutting its forecast for the year on weaker demand for consumer electronics. Now, this coming in the midst of higher inflation, something that was a largely expected here as consumers begin to rein in their spending. Best Buy now expects Q2 comp sales to decline by about 13%. Shares off nearly 3%