RTTNews | Feb 26, 2021 09:50AM EST

09:49 Friday, February 26, 2021 (RTTNews.com) - Shares of Etsy Inc. (ETSY) are gaining nearly 15% on Friday morning after its fourth-results trounced expectations, as did its first-quarter outlook.

ETSY is currently trading at $226.51, up $28.93 or 14.64%, on the Nasdaq.

The online crafts marketplace reported fourth-quarter net income of $149 million or $1.08 per share, up from $31 million or $0.25 per share last year. Analysts expected earnings of $0.59 per share. Etsy's revenues rose to $617 million from $270 million last year. Analysts had a consensus revenue estimate of $516 million.

"Exceptional fourth quarter performance, with consolidated GMS and revenue growth of approximately 118% and 129% respectively, capped off a transformative year for Etsy," said CEO Josh Silverman.

Looking forward to the first quarter, the company expects revenues of $513 million to $536 million. Analysts currently expect revenues of $383 million.

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