Etsy shares rally on earnings, outlook beat

Etsy Inc. shares rallied in the extended session Tuesday after the online crafts marketplace’s results and outlook topped Wall Street estimates. Etsy shares surged 14% after hours. The company reported fourth-quarter net income of $44.8 million, or 36 cents a share, compared with a loss of $21.4 million, or 19 cents a share, in the year-ago period. Revenue rose to $136.3 million from $110.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 10 cents a share on revenue of $132.6 million. For the year, Etsy estimates revenue to grow 21% to 23%, or to a range of $533.9 million to $542.7 million. Analysts expect revenue of $519.3 million.

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