Etsy Shares Climb On Upbeat Outlook

By Sue ChangMarketsMarketWatch Pulse

Shares of Etsy Inc. rallied in Tuesday's extended session after the online marketplace raised its full year revenue outlook. Etsy reported its loss widened to $7.3 million from $6.4 million a year earlier. On a per-share basis, Etsy lost 6 cents a share versus a loss of 7 cents a share. The company said its results reflect $6.4 million in foreign exchange loss and an income tax provision of $4.3 million. Revenue increased to $85.4 million from $61.4 million. Analysts surveyed by FactSet had forecast Etsy to report a loss of a penny a share on revenue of $80.6 million. The craft-oriented marketplace said it now expects 2016 revenue to grow 25% to 28% from 20% to 25% previously. Etsy shares climbed 4.6% after hours.

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