Etsy (ETSY) Q2 Sales Beat Views; Raises Outlook
Etsy (NASDAQ: ETSY) reported Q2 EPS of ($0.06), which may not compare to the analyst estimate of ($0.01). Revenue for the quarter came in at $85.35 million versus the consensus estimate of $80.55 million.
"During the second quarter, we expanded our global community to include approximately 1.7 million active sellers and 26.1 million active buyers," said Chad Dickerson, Etsy, Inc. CEO and Chair. "We accelerated our GMS growth and provided high impact services to help our creative entrepreneurs start, grow and manage their businesses. This continued focus and discipline led to growth across all of our key metrics and, as a result, we are raising our financial outlook for 2016."
Increasing 2016 Financial Guidance
We are increasing our full-year 2016 guidance for GMS, revenue and Adjusted EBITDA margin in light of our strong performance in the first half of the year and our expectations for the remainder of the year, and we are reiterating our gross margin guidance for 2016. We are also reiterating our 3-year guidance:
2016-2018 CAGR Range | 2016 Revised Guidance | 2016 Original Guidance | |||
GMS Growth | 13-17% | 15-17% | Mid-point of 3-year range | ||
Revenue Growth | 20-25% | 25-28% | High end of 3-year range | ||
Gross Margin (by end of 2018) | Mid 60s (%) | 64-65% | 64-65% | ||
Adjusted EBITDA Margin (by end of 2018) | High teens (%) | 13-14% | 10-11% |
For earnings history and earnings-related data on Etsy (ETSY) click here.