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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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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