Etsy Earnings: ETSY Stock Surges as Q4 Earnings, Revenue Beat the Mark
Etsy (NASDAQ:ETSY) was a hotspot for holiday shopping during its last period of the fiscal 2018, helping to lift its profit and revenue above what Wall Street called for, which positively benefited the company’s stock after hours.
The Brooklyn, New York-based e-commerce site announced fourth-quarter earnings of 32 cents per share on an adjusted basis, topping the 20 cents per share that the Wall Street guidance called for, according to data compiled by FactSet. Its net income came in at $41.3 million, or 32 cents per share for the period, marking a 7.8% decline from its year-ago earnings of $44.8 million, or 36 cents per share.
Etsy’s report included revenue of $200 million, roughly 46.7% higher than the $136.3 million it amassed during its last quarter of 2017. Analysts were calling for revenue of $194.9 million in the FactSet guidance. The sales gain was propelled by an increase in marketplace revenue for the company.
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Its services revenue also rose, increasing 42% year-over-year, while the number of active sellers popped 10% and the number of active buyers was nearly 20% higher.
For its new fiscal year, Etsy sees its revenue between $779 million and $797 million, with the low point of the forecast topping the Wall Street sales outlook of $776.2 million for the company’s 2019.
ETSY stock gained about 4.1% during regular trading hours ahead of the online marketplace’s results, which pushed shares up another 4.7% after the bell on the back of a strong end to its fiscal 2018.
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