Etsy Trades Higher On Q4 Earnings Beat

Etsy Inc ETSY reported fourth-quarter earnings of 25 cents per share on Wednesday, which beat the analyst consensus estimate of 16 cents by 56.25%. This is a 21.88% decrease over earnings of 32 cents per share from the same period last year.

The company reported quarterly sales of $269.998 million, which beat the analyst consensus estimate of $264.91 million by 1.92%. This is a 34.98% increase over sales of $200.028 million the same period last year.

Etsy sees fiscal year 2020 sales of $1.04-$1.06 billion versus the $1.02 billion estimate.

See Also: Etsy Purchases Reverb For $275M

"Last March we laid out a multi-year growth strategy for Etsy, including an ambitious product, marketing, and technology roadmap, which deepen our Right to Win and serve as the foundation for our five-year growth targets through 2023," said Josh Silverman, Etsy CEO in a statement. "All of the work we've done in 2019 to improve the customer experience made Etsy.com a great destination for holiday shopping, with consolidated fourth quarter GMS and revenue growing 33% and 35% respectively, and 20% and 28% for the core marketplace."

Etsy shares are trading up 10.3% at $55.92 in Wednesday's after-hours session. The stock has a 52-week high of $73.34 and a 52-week low of $39.76 cents.