Etsy (NASDAQ: ETSY ) announce its latest quarterly earnings results late in the day Monday, posting revenue that was better than analysts were calling, sending shares soaring after hours.
Etsy did not perform as well as it did in the year-ago quarter when it tallied up net income of 10 cents per share. The company added that it brought in revenue of $132.4 million, which was a 30.2% improvement over the $101.7 million it brought in during the year-ago quarter.
Analysts were calling for the company to rake in sales of $127.1 million. For the full fiscal year, Etsy increased its revenue guidance to now be in the range of $587 million to $596 million, which is $5 million higher than its previous range of $582 million to $591 million in sales.
The company also increased its outlook for gross merchandise sales. In June, the site increased its transaction fees that it collects from sellers to 5% from 3.5%.
ETSY stock gained about 8.6% after the bell Monday following the company's strong quarterly revenue showing. Shares were up roughly 2.1% during regular trading hours in anticipation of its results.
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