Etsy, Inc. reported a disappointing first quarter with both revenue and earnings per share falling short of Wall Street expectations. The company posted a revenue of $645.954 million, narrowly missing the consensus estimate of $646.33 million, and earnings of 48 cents per share, below the forecasted 49 cents. CEO Josh Silverman attributed the underperformance to a challenging macroeconomic environment and a decline in consumer discretionary spending, which continues to impact the growth of the Etsy marketplace. The company's shares dropped by up to 16% in after-hours trading, reflecting investor concerns over the reported figures and ongoing market conditions.