Etsy, Inc. (ETSY) stock soared 20.55% in the after-market trading session at the price of $154.50 after announcing its financial results for Q4 and full-year 2021.
Etsy, Inc. serves two-sided online market sites that adjoin millions of innovative and passionate sellers and buyers from across the globe. These marketplaces are determined to use the power of business to bolster societies and authorize individuals.
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ETSY Q4 2021 Earnings Report
On 24th February 2022, ETSY reported its financial results for Q4 and full-year ended 31st December 2021. Consolidated revenue totaled US$717.1M for the Q4 of 2021. It represents a 16.2% growth compared to the Q4 of last year. For the Q4 of 2021, ETSY reported US$4.2B in consolidated GMS. It is a 16.5% surge year-over-year.
Net income totaled US$161.6M, or $1.11 per share, for the Q4 of 2021. It represents a year-over-year gain of 8.8%. ETSY ended the year with cash and cash equivalents of roughly US$1.1B. Under Etsy’s stock repurchase program, the company repurchased a total of US$68M, or 287,368 shares, of its common stock during the quarter.
Chief Executive Officer of ETSY, Josh Silverman, remarked that Etsy remained one of the best stores for its customers. The company has delivered record levels of revenue, GMS, and adjusted EBITDA in the quarter. During the vacation, vendors fetched the benefits to shop at a wide range of scales. Shoppers keep loving their experiences with the company and are coming back for more.
Mr. Silverman added that it is fair to say Etsy had maintained much of the positive impact they had seen from the drastic adoption of e-commerce amid the pandemic. More than half of ETSY’s 2020 active customers and 37% of fresh shoppers return to purchase in 2021. Additionally, they are driving outstanding customer engagement, promoting Etsy’s brand globally, and helping their vendors grow. They will take care of the individuals, societies, and the planet, he concluded.