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Etsy Stock Jumps Even With Loss

Feb 24 2016

Etsy

Etsy reported its fourth quarter results with $88 million in revenue and a 4 cent loss. The revenue was slightly higher than expected but the loss was 3 cents more than they thought. Gross merchandise sales leaped 23% in the quarter compared to the fourth quarter a year ago. The stock moved higher 13% after the announcement in after hours trading.

Sellers on the site number over 1.6 million in the quarter. And buyers on the site increased to 24 million. The stock had a strong initial offering last year but has struggled since then, still trading lower than its starting price.

Investors seem happy with the holiday season that showed the company has staying power. And mobile sales on the site continue to be a major driving force in transactions.

Projected sales and profit was good today also. The company hopes to continue to grow and draw in both new sellers and new buyers.

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