Etsy came up announcing its fourth quarter earnings on Monday that beat the analysts’ expectations.
The earnings of e-commerce website, which focuses on vintage or handmade products and supplies along with exclusive factory-manufactured items, beat the analysts’ expectations of 21 cent per share and reported fourth quarter earnings of 32 cents per share.
Company’s revenue also remained ahead of expectations as it generated revenue of $200 million against the expectations of $194.9 million and that saw a growth rate inclined by 46 percent from growth rate of a year ago, largely because of the surging marketplace revenue, while service revenue, remained growing at relatively slower pace in the fourth quarter but still inclined to 42 percent year-over-year.
The Brooklyn, New York-based company reported increase in its number of active seller at the end of fourth quarter which remained 10 percent up from the number of seller the company had at the end of 2017 and company’s number of active buyers in the reported quarter also rose by 20 percent.
The strong sales during the holiday shopping helped the company to deliver strong fourth-quarter results making the year end an excellent one, CEO Josh Silverman said in a statement.
The five key shopping events during the quarter from Thanksgiving through Cyber Monday came up with 30 percent rise in sales from the sales customer made during the same occasions last year, the company said.
Founded in 2005, Etsy remained focused to improve its landing page experiences and browsing experience by utilizing discovery badges help the buyers throughout the marketplace and building its image as a trustworthy site in the marketplace. Company also expanded its marketing strategies and invested more to improve services which drive the success for sellers, he added.
For 2019, Etsy forecasted to be generating revenue between of between $779 million and $797 million.
