By Rob Curran

Etsy said longtime Chief Executive Josh Silverman is stepping down, to be succeeded by President and Chief Growth Officer Kruti Patel Goyal, and it also logged an increase in earnings and revenue for the third quarter.

Silverman, who has led Etsy since 2017, on Wednesday said Goyal proved herself during successful tenures as head of shopping app Depop and leading Etsy growth initiatives. The Brooklyn, N.Y., online thrift store said it expects Silverman to stay as executive chair through the end of 2026, succeeding Chairman Fred Wilson, who will remain on the board.

The online marketplace for crafts and vintage items also posted third-quarter earnings of $75.5 million, or 63 cents a share, up from $57.4 million, or 45 cents a share, a year earlier.

Analysts were expecting earnings of 52 cents a share, according to FactSet.

Revenue came to $678 million, surpassing the $657.5 million average analyst target. That's up 2.4% on an as-reported, consolidated basis, or up 6.1% when excluding Reverb from the prior-year period, Etsy said.

The number of active sellers in the quarter rose 11% to 5.5 million, Etsy said, while active buyers fell 5% to 86.6 million.

Gross merchandise sales in the third quarter fell 6.5% to $2.72 billion, it said.

For the fourth quarter, Etsy targeted gross-merchandise sales of $3.5 billion to $3.65 billion, and a take rate of 24.5%.

Like many retailers, Etsy is scrambling to adjust to consumers' use of ChatGPT and other artificial-intelligence technology when browsing online. Etsy was one of several retailers that recently struck a partnership deal with ChatGPT owner OpenAI.

Etsy fell 9.1% to $68 premarket.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

Etsy's number of active sellers in the third quarter fell 11% to 5.5 million, it said. "Etsy CEO Silverman to Step Down, to Be Succeeded by Goyal; 3Q Profit Rises," at 8:13 a.m. ET, incorrectly said active sellers rose 11%.

(END) Dow Jones Newswires

Etsy said the number of active sellers in the quarter dropped 11% to 5.5 million. "Etsy CEO Silverman to Step Down, to Be Succeeded by Goyal; 3Q Profit Rises," published at 8:13 a.m. ET, incorrectly said the number of active sellers rose.

(END) Dow Jones Newswires

October 29, 2025 11:09 ET (15:09 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.