Shares soar as company beats

Etsy shares jumped more than 8% in after-hours trading on Wednesday after the company’s second quarter earnings beat on top and bottom lines.

Here’s how the company did:

• Earnings per share: $0.51 vs. $0.31 estimated, according to Refinitiv
• Revenue: $585 million vs. $556 million estimated, according to Refinitiv

Despite tough macroeconomic conditions, Etsy’s second quarter revenue grew over 10%. Etsy CFO Rachel Glaser attributed the growth to an increase in Etsy marketplace transaction fees, the addition of Depop and Elo7 to the company’s House of Brands portfolio, and the strength of its Etsy Ads product.

The Etsy marketplace also added…