Etsy's first-quarter revenue exceeded expectations, turning a profit into a loss compared to the same period last year.

E-commerce platform Etsy announced its first quarter performance, with revenue increasing by 0.8% year-on-year to $651.2 million, analysts expected $641.6 million. The company recorded a loss of $52.1 million, or 49 cents per share, for the period, compared to a profit of $63 million, or 48 cents per share, in the same period last year. Total merchandise sales were $2.79 billion, down by 6.5% year-on-year, in line with expectations. Etsy's Chief Financial Officer Lanny Baker stated that the company is working to maintain a flexible policy due to the uncertainty caused by tariffs, and consumer confidence in Etsy's core market may be shifting. Earlier in April, Etsy announced that it will sell its subsidiary Reverb, a musical instrument marketplace, with the transaction expected to be completed in the coming months.