Etsy up after Q1 revenue beat

Shares of online marketplace Etsy ETSY.O up 3% at $47.50 in premarket trading

Q1 revenue of $651.2 mln tops estimates of $642.7 mln - LSEG

Consolidated gross merchandise sales down 5.7% on a constant currency basis, marking sequential improvement from a 6.9% drop in Q4 despite fears of slowdown in discretionary spending amid tariff concerns

Says Q1 core profit margin was stronger than expected as company worked to cut costs

Co sets up operational task force to provide buyers and sellers with guidance to navigate evolving tariff landscape, including buying locally produced items

YTD, stock down 12% as of last close