Etsy Shares Rally After Adjusted Earnings, Revenue Beat

By Wallace WitkowskiMarketWatch Pulse

Etsy Inc. shares rallied in the extended session Tuesday after the online crafts marketplace topped Wall Street forecasts for the quarter. Etsy shares surged 11% to $8.23 after hours. The company reported fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization of $14 million on revenue of $87.9 million. Analysts surveyed by FactSet had forecast adjusted EBITDA of $12.4 million on revenue of $86.6 million. The company forecast revenue growth of 20% to 25% over the next three years, and growth at the high end of that range for this year, which would work out to revenue of up to $341.9 million for 2016. Analysts expect 2016 revenue of $347.9 million.

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