Etsy shares climb after strong earnings report

Etsy shares as much as 18 percent after the company reported more than $ 1 billion in gross merchandising sales (GMS) during its latest quarter.

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.”

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