Earnings

Etsy Hits $1 Billion In Sales

Etsy gave investors a thrill when it announced earnings yesterday — and saw its share bounce 18 percent as a result.

The big bounce was powered mostly by the $1 billion in gross merchandising sales Etsy reported — its best ever result in that regard.

All in all, Etsy posted adjusted earnings per share of 15 cents, ahead of a 9 cent Thomson Reuters estimate. Revenue popped up $136.3 million versus the $132.5 million that was the pre-release consensus estimate.

That reflects a pickup of 23.6 percent year-on-year growth.

The big and most attention-grabbing earning event, however, was blasting past the $1 billion in sales in a single quarter mark and putting up a 17.8 percent growth rate year on year on the scoreboard. Active sellers and active buyers percentages also increased by double digits compared to the same period last year.

“Etsy had a good fourth quarter and helped our sellers achieve a meaningful acceleration in sales growth during an important holiday season,” Etsy CEO Josh Silverman said in a statement. “We created a more engaging experience for our buyers, and delivered our first-ever billion dollar quarter of GMS, reflecting strong growth across all of our core markets. We believe we’re well-positioned heading into 2018, and we’re looking forward to a great year.”

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