Etsy shares increase 18% after the company reported more than $1 billion in gross merchandising sales (GMS) during its latest quarter. Revenue was $136.3 million versus the $132.5 million Thomson Reuters consensus estimate, growing 23.6 percent year over year.
Etsy is the global marketplace for unique and creative goods. It’s home to a universe of special, extraordinary items, from unique handcrafted pieces to vintage treasures.
“Etsy had a good fourth quarter and helped our sellers achieve a meaningful acceleration in sales growth during an important holiday season, 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.”
Josh Silverman, CEO
After investing in growth of its core business like Etsy Studio (Where customers can shop for basic crafts materials like fabric) Etsy has shown marked improvement on both the top line and the bottom line. Customer metrics and GMS all point to a growth story as the company finds an audience again. Analysts had forecast Etsy’s 2018 revenue would hit only $519 million.