Etsy raises 2018 revenue forecast, shares surge

Etsy expected revenue growth of 32 per cent to 34 per cent. — Reuters
Etsy expected revenue growth of 32 per cent to 34 per cent. — Reuters

NEW YORK, June 14 — Etsy Inc today raised its full-year forecast for revenue growth and increased its transaction fee for sellers, sending the e-commerce company’s shares up more than 10 per cent in premarket trading.

Th company said it expected revenue growth of 32 per cent to 34 per cent in 2018, up from its previous forecast of 22 per cent to 24 percent.

Etsy said it would raise the transaction fee it charges when a seller makes a sale to 5 percent from 3.5 percent and this would also apply to the cost of shipping.

Shares of Etsy rose 10.6 per cent to US$36.50. — Reuters