Benzinga | Aug 7, 2020 12:04PM EDT

Why Etsy's Stock Is Trading Higher Today

Etsy Inc (NASDAQ:ETSY) shares are trading higher on Friday, potentially on continued strength after the company on Wednesday reported better-than-expected second-quarter EPS and sales results. The company also issued third-quarter sales guidance above estimates.

The company reported quarterly earnings of 75 cents per share, which beat the analyst consensus estimate of 39 cents by 92.31%. This is a 400% increase over earnings of 15 cents per share from the same period last year.

Etsy reported quarterly sales of $428.74 million, which beat the analyst consensus estimate of $329.95 million by 29.94%. This is a 136.75% increase over sales of $181.09 million in the same period last year.

Etsy is an American retailer of handmade goods, vintage items, and crafted goods. The business model is based on sellers listing products on Etsy's platform.

Etsy shares were trading up 3.23% to $134.88 at the time of publication Friday. The stock has a 52-week high of $138.95 and a 52-week low of $29.95.