I will also speak to the guy who designed a new campus. More ahead on bloomberg west. First of breaking news. Etsy is out with its first earnings report. Shares are plummeting. Currency values may hurt buying behavior outside the united states. I have had a bumpy ride since the ipo a month ago. Shares have lost a lot of value. They are down 30 from a 30 high on april 16. On top of all this they have been hit by a lawsuit. I bring in leslie picker to being in the numbers. What is the take away today . It seems surprising. Reporter the rule of thumb is when you have an ipo, make sure you have one quarter of earnings in the bag. That is not what at the etsy did here. Revenue came in almost exactly where analysts were estimating. This is something for a company that has already been overvalued relative to peers, missing firstquarter earnings is not a good sign. Emily how big a problem is the currency issue . Reporter its interesting because during ipo they said it is not a big deal for the
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