Etsy shares decline as loss widens while revenue grows
Etsy Inc. shares dropped in the extended session Tuesday after the online crafts store's fourth-quarter loss widened as revenue grew. Etsy shares slid 3.1% to $11.75 after hours, adding to a 5.2% decline during the regular session. The company reported an unadjusted fourth-quarter loss of 19 cents a share, compared with a loss of 4 cents a share a year ago, as revenue rose 25% to $110.2 million. Analysts surveyed by FactSet expected earnings of 2 cents a share on revenue of $107.8 million. For fiscal 2017, Etsy expects revenue to grow by 20% to 22%, or to within a range of $438 million to $445.3 million. Analysts expect $445.7 million.
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