Etsy Shares Up 3% After Company Swings To Profit
Shares of Etsy Inc. rose 3% late Thursday after the company reported an unexpected profit in the second quarter. Etsy said it earned $11.7 million, or 10 cents a share, in the quarter, reversing a loss of $7.3 million, or 6 cents a share, in the year-ago period. Total revenue rose 19% to $101.7 million, from $85.4 million a year ago. Analysts polled by FactSet had expected a loss of 1 cent a share on sales of $101.2 million. The number of active sellers grew to 1.8 million in the quarter, from 1.7 million sellers a year ago, the company said.
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