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Etsy Soars After Posting Profit, Showing Progress on Growth

  • Stock jumps as much as 19% in extended trading after results
  • Brooklyn-based firm reports first profit as a public company
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Etsy Inc. jumped as much as 19 percent in extended trading after posting its first quarterly profit since becoming a public company and making progress on crucial growth metrics.

The Brooklyn, New York-based company posted revenue of $81.8 million in the first quarter, according to a statement Tuesday, compared with the average analyst estimate of $75.2 million. Profit was 1 cent a share, beating the average analyst estimate for a loss of 3 cents a share.