Etsy shares jump 10% after earnings
The online marketplace for handcrafted goods reported a GAAP loss of $0.04, while Wall Street had expected adjusted earnings per share (EPS) of $0.01, according to Bloomberg.
Revenues came in at $87.8 million, up 35% quarter-on-quarter, and higher than the expectation for $86.7 million.
The company said integrating PayPal and using promoted listings helped boost revenues.
Gross Merchandise Sales (GMS), which records the dollar value of everything sold through the marketplace, rose 21% in Q4 compared to the fourth quarter of 2014. This would have been about 1% higher if the strong dollar did not hurt Etsy's international sales.
Etsy had 24 million active buyers last year, up from 20 million in 2014. Concern mounted as Amazon launched Handmade - a specialized marketplace for handcrafted products - that was seen as a direct threat to Etsy.
The company provided a three-year outlook, projecting GMS growth of 13% to 17%, and revenue growth of 20% to 25%.
Shares rose by as much as 10%. But they had closed down 7% on Tuesday ahead of the release, and had fallen 75% from the April 2015 IPO.
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