Business Corpus: Etsy Stock Jumps On Second-Quarter Earnings Report, Guidance RaiseEtsy stock jumped Monday after it reported second-quarter results after the market close that beat revenue estimates and it raised 2018 guidance. The post Etsy Stock Jumps On Second-Quarter Earnings Report, Guidance Raise appeared first on Investor's Business Daily.

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Etsy stock jumped Monday, following second-quarter results reported after the market close that missed on the bottom line but beat revenue estimates, and it raised guidance for the year.

Etsy (ETSY) reported revenue of $132.4 million, up 30% from the year-ago quarter and beating the consensus estimate of $127.1 million. It reported adjusted earnings of 3 cents per share, missing the consensus of 4 cents. It said diluted earnings per share were impacted by noncash foreign exchange losses of $4.5 million, or 4 cents per diluted share.

Etsy shares were up 8.5%, near 46.05, during after-hours trading on the stock market today. Etsy stock has more than doubled in price this year.

The company held its initial public offering in April 2015, pricing Etsy stock at 16.

Etsy raised revenue guidance for this year to a range of $587 million to $596 million. That's up from a previous range of $582 million to $591 million.

Gross Sales Up 20.4%

The retailer provides a platform used by creators of arts and crafts and handmade goods to sell their products. In June, Etsy raised the transaction fees it collects from sellers to 5% from 3.5%, which will support increased investments in improving the user experience.

Etsy reported gross merchandise sales on its platform of $901.7 million, up 20.4% from the year-ago quarter. It ended the quarter with cash and cash equivalents of $567.5 million.

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