Shares of Etsy (NASDAQ:ETSY) popped on Tuesday, rising as much as 16.8%. As of 11:02 a.m. EST, the stock was up 14.5%.
The stock's rise follows the online marketplace's fourth-quarter results, which boasted better-than-expected revenue and earnings per share. The quarter was driven by strength across all of the company's key metrics.
Etsy's fourth-quarter revenue was $200 million, up about 47% from the year-ago quarter. On average, analysts were expecting revenue of approximately $195 million. The company earned $41.3 million, translating to $0.32 per share. This easily beat an average analyst estimate for earnings per share of $0.21.
Results were driven by a 22.3% year-over-year increase in gross merchandise sales (GMS) volume, a price hike last summer to the fees the company charges sellers on each transaction, and a 41.7% year-over-year jump in seller services revenue (revenue from services offered to sellers, including promoted listings, shipping services, and Etsy Plus).
Check out the latest earnings call transcript for Etsy.
Looking ahead, Etsy CEO Josh Silverman said in the company's fourth-quarter earnings call that he believes the company is "well-positioned for continued growth in 2019."
Specifically, the company expects more strong revenue growth during the year and further growth in its adjusted EBITDA. Management guided for 29% to 32% year-over-year growth in full-year 2019 revenue, reaching a range of $779 million to $797 million. And the company expects adjusted EBITDA to be between $181 million and $197 million, up from about $140 million in 2018.