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.
By: MarketWatch.
Photo: Getty Images.
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