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Etsy Inc (ETSY) Investors Profit from Strong Q3 2017 Results

The stock gained 3.4% and a further 3.6% after hours

By Karl Utermohlen, InvestorPlace Writer

Etsy Inc (NASDAQ:ETSY) unveiled its latest quarterly earnings results on Monday.

Etsy Inc (ETSY)Shares rose 3.4% by day’s end, suggesting that investors had something special to look forward to for the company’s third quarter earnings call. The artsy marketplace unveiled earnings of 21 cents per share on a GAAP basis, topping the year-ago loss of two cents per share.

Revenue came in at $106.4 million for Etsy, beating the $105 million that analysts polled by Thomson Reuters had projected. The figure is a 21.5% improvement compared to the year-ago revenue of $87.56 million.

On an adjusted basis, Etsy earned 12 cents per share, which handily beat Wall Street’s outlook of five cents per share. This is the second consecutive profitable quarter for the company.

Gross merchandise sales, which adds up the total value of goods that appear on Etsy’s platforms, posted a 13% gain year-over-year to $766.4 million. In the second quarter, this figured rose 12%.

“We will continue to make progress on our strategy to own ‘special’ shopping occasions by delivering a more engaging experience for our buyers, and providing our sellers with the tools they need to compete,” said Josh Silverman, Etsy CEO, in the company’s earnings press release.

“Looking ahead, we believe our sharpened focus will enable us to build on our momentum, support our sellers throughout the holiday season, and advance our new mission to keep commerce human,” he added.

ETSY shares were 3.6% higher after the close of the market on Monday.

Article printed from InvestorPlace Media,

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