Etsy shares climb after gross merchandising sales hit $1 billion in one quarter
- Earnings per share: 15 cents vs. 9 cents estimated according to a Thomson Reuters consensus estimate
- Revenue: $136.3 million vs. $132.5 million estimated according to a Thomson Reuters consensus estimate
- Gross merchandising sales hit $1 billion for the first time in one quarter.
Etsy shares as much as 18 percent after the company reported more than $1 billion in gross merchandising sales (GMS) during its latest quarter.
The company, which reported fourth-quarter earnings after the bell on Tuesday, posted adjusted earnings per share of 15 cents, ahead of a 9 cent Thomson Reuters consensus estimate. Revenue was $136.3 million versus the $132.5 million Thomson Reuters consensus estimate, growing 23.6 percent year over year.
This was the first time Etsy reached the $1 billion sales mark in one quarter, showing a growth rate of 17.8 percent year-over-year. 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."