Etsy shares see-saw after company's Q3 results
Shares of Etsy Inc. swung in and out of the red late Tuesday after the online marketplace company reported revenue above Wall Street expectations and said its chief financial officer will leave next year. Etsy said it lost $2.4 million, or 2 cents a share, in the third quarter, compared with $6.9 million, or 6 cents a share, in the year-ago period. Adjusted for one-time items, Etsy earned $13 million in the quarter. Revenue reached $87.6 million in the quarter, up from $65.7 million a year ago. Analysts polled by FactSet had expected a GAAP loss of 2 cents a share and flat adjusted per-share earnings on sales of $86.8 million. In the same statement, Etsy said CFO Kristina Salen has decided to leave the company in March. The company will launch a search for its next CFO immediately, it said. Shares of Etsy had ended the regular trading day down 0.2% and were most recently up 0.4%.
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