Etsy (NASDAQ:ETSY) saw its shares decline by more than 8% pre-market today, following the release of its fourth-quarter earnings which did not meet the expectations set by analysts.

The online marketplace reported earnings per share (EPS) of $0.62, falling short of the expected $0.77. However, its revenue reached $842.3 million, exceeding the forecast of $827.67 million.

For the upcoming first quarter of 2024, Etsy anticipates a slight year-over-year dip in Gross Merchandise Sales (GMS), projected to be in the low single-digit percentage range.

Additionally, the company estimates the take rate for the first quarter to range between 21% and 21.5%, with an expected adjusted EBITDA margin of about 26%.

Over the full year, Etsy is optimistic that revenue growth will outpace GMS growth. The anticipated full-year take rate is expected to be in line with or higher than the first quarter's projections.