Etsy Inc (NASDAQ:ETSY) is trading higher Friday after the company announced better-than-expected fourth-quarter financial results.
Etsy said fourth-quarter revenue increased 16.2% year-over-year to $717.14 million, which beat the $685.45 million estimate. The e-commerce marketplace company reported quarterly earnings of $1.11 per share, which beat the estimate of 79 cents per share.
"During the holiday season, our sellers — most businesses of one and insulated from widespread supply shortages or complex fulfillment processes — brought the benefits of shopping small to scale. Shoppers continue to love their experiences with Etsy and are coming back for more," said Josh Silverman, CEO of Etsy.
"In 2022 we plan to double down on frequency and trust building initiatives that inspire buyers with an Etsy that feels more 'made for you' and reliable, to drive buyer and seller loyalty," Silverman added.
Etsy expects first-quarter revenue to be between $565 million and $590 million versus the estimate of $629.51 million.
Related Link: Recap: Etsy Q4 Earnings
ETSY Price Action: Etsy has traded as low as $109.38 and as high as $307.75 over a 52-week period.
The stock was up 6.11% at $136.23 at time of publication.
Photo: courtesy of Etsy.
