AP NEWS

Etsy: 3Q Earnings Snapshot

November 6, 2018

BROOKLYN, N.Y. (AP) _ Etsy Inc. (ETSY) on Tuesday reported third-quarter profit of $19.9 million.

The Brooklyn, New York-based company said it had net income of 15 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The online crafts marketplace posted revenue of $150.4 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $150.3 million.

Etsy expects full-year revenue in the range of $596 million to $600 million.

Etsy shares have climbed 98 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.43, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETSY at https://www.zacks.com/ap/ETSY

AP RADIO
Update hourly