How Etsy Transformed Into a Coronavirus Mask Factory in Q1
Etsy (NASDAQ: ETSY), the online marketplace for buying and selling handmade goods, had a pretty terrific Wednesday, with its stock closing the day up 7.5% after reporting strong sales growth even in the midst of a coronavirus pandemic.
True, Etsy suffered a steep decline in profits in its first quarter, down 58% year-over-year at just $0.10 per diluted share. But between 23% sales growth in the company's flagship "marketplace" business, and 71% growth in "services," the company ended up with overall sales growing 35%, which was significantly better than the 30% growth Wall Street had predicted.
These were some pretty great numbers (profits aside) for Q1. What I'd like to highlight today, though, is what Etsy investors can look forward to in Q2.
Source Fool.com
