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Etsy Tumbles Despite Earnings Beat

Company warns that currency effects may hit Q3 sales.

Etsy delivered quarterly earnings and revenue that topped analysts’ expectations on Tuesday, but the stock plunged as the company warned that foreign exchange rates could negatively impact third-quarter sales growth.

The stock plunged as much as 14 percent in after-hours trading. It was last down about 13 percent.

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This article originally appeared on Recode.net.