Why Etsy Shares Are Rising

Etsy Inc (NASDAQ: ETSY) shares are trading higher after the company reported third-quarter earnings.

Etsy reported quarterly earnings of 62 cents per share which beat the analyst consensus estimate of 54 cents per share by 15%. Etsy also reported quarterly sales of $532.43 million which beat the analyst consensus estimate of $518.86 million by 2.6%. This is an 18% increase over sales of $451.48 million the same period last year.

"Last year, Etsy dramatically outperformed e-commerce industry benchmarks, and now, in 2021, we're lapping that performance with flying colors, reinforcing the significant market share gains we have made," said Josh Silverman, Etsy, Inc. CEO.

"Our excellent third quarter results further reflect that we're moving the needle on frequency, and that many of the millions of buyers who found, or re-found Etsy during the pandemic are sticking with us, and performing even better than historical cohorts. We are also making great progress integrating our newest brands, Depop and Elo7, aligning their investment priorities, as well as Reverb's, to those areas where we see opportunity for significant value creation," Silverman stated.

Etsy has a 52-week high of $283.40 and a 52-week low of $111.49.