Etsy (ETSY) Q4 Revenues Beat
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Etsy (NASDAQ: ETSY) reported Q4 EPS of $0.36, which includes tax gains and does not compare to the analyst estimate of $0.09. Revenue for the quarter came in at $136.27 million versus the consensus estimate of $132.55 million.
Etsy's net income in the fourth quarter of 2017 included a tax benefit of $26.5 million primarily due to the impact of the U.S. Tax Cuts and Jobs Act of 2017, $2.2 million in interest expense associated with the build-to-suit lease accounting related to our new headquarters and a foreign exchange gain of $2.2 million, primarily non-cash.
GMS was $1.0 billion in the fourth quarter of 2017, up 17.8% compared with 16.7% in the fourth quarter of 2016. This was the first quarter Etsy achieved $1.0 billion in GMS. We accelerated GMS growth by 4.6% compared with the third quarter of 2017, following a strong holiday season and several successful launches of new features and tools. GMS growth was supported by 10.6% year-over-year growth in active sellers and 16.8% year-over-year growth in active buyers.
Issuing 2018 guidance for GMS, revenue and Adjusted EBITDA margin:
2018 Guidance
GMS Year-Over-Year Growth: 14-16%
Revenue Year-Over-Year Growth: 21-23%
Adjusted EBITDA Margin: 20-22%
For earnings history and earnings-related data on Etsy (ETSY) click here.
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