Shares of Etsy (NASDAQ: ETSY) turned sharply higher on Tuesday, surging as much as 16.3% -- even as the broader market dipped. As of 12:35 p.m. ET, the stock was still up 15.9%.

The catalyst that sent the e-commerce platform higher was better-than-expected financial results.

Etsy reported third-quarter revenue of $594 million, up 11.7% year over year, though gross merchandise sales (GMS) of $3 billion slipped 3.3%. This resulted in a diluted loss per share of $7.62. 

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Source Fool.com