Etsy Q2 2026: Revenue Flat, EPS Beat, Layoffs 12%, $2bn Buyback

Revenue $668M (-0.7% YoY) but beat estimates, EPS $1.34 vs $1.17. Active buyers down 0.4%, sellers up 5.9%. Stock up 55.9% YTD. CEO Kruti Patel Goyal laying off 12% of staff, launching $2bn buyback. AI strategy showing results – buyer growth turned positive, take rate 25.9%, app GMS accelerated. Layoffs framed as restructuring for speed.