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Etsy First-Quarter Earnings Top Analyst Estimates

Etsy (ETSY) reported first-quarter results late Wednesday that toppled estimates on the top and bottom lines. However, Etsy stock fell.




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The company reported adjusted earnings of $1 a share on revenue of $550.6 million. Analysts expected Etsy to report earnings of 88 cents a share on revenue of $530.4 million.

While Etsy provided a second-quarter outlook, it did not provide full-year guidance. For the second quarter it expects revenue in the range of $493 million to $536 million. Analysts predicted $493.7 million. That represents growth in the range of 15% to 25%. It compares with triple-digit growth in the previous four quarters.

Etsy stock dropped 9%, near $168, during after-hours trading on the stock market today.

The company reported gross merchandise sales of $3.14 billion vs. analyst expectations of $3.04 billion.

Etsy provides an online e-commerce platform where creators of arts and crafts, vintage items and other unique goods go to sell their products.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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