Etsy’s stock is dropping on earnings miss, slow start to fiscal year

Etsy Inc.’s stock fell 8% in extended trading Wednesday after the company posted a quarterly earnings miss and warned of a soft beginning to its fiscal year.The online marketplace ETSY, +1.66%reported fiscal fourth-quarter net income of $83.3 million, or 62 cents a share, compared with net income of $109.5 million in the same quarter a year ago.Revenue rose 4% to $842.3 million from $807.2 million in the year-ago quarter.Analysts surveyed by FactSet had expected on average net income of 77