Markets

Etsy (ETSY) Stock Soars on Q2 Revenue Beat

A generic image of a person on their laptop
Credit: Shutterstock photo

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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.

The e-commerce site for handmade and vintage items said that for its second quarter of fiscal 2018, it brought in net income of $3.4 million, or 3 cents per share. Wall Street said in its consensus estimate that it was calling for the company to amass net income of 4 cents per share.

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.

More From InvestorPlace

Compare Brokers

The post Etsy (ETSY) Stock Soars on Q2 Revenue Beat appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ETSY

Other Topics

Stocks

Latest Markets Videos

    InvestorPlace

    InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers.

    Learn More