Etsy, a New York-based company, posted its revenue of $81.8 million in the first quarter of the year, according to a report released on Tuesday. That is almost $10 million above the estimate made by analysts. Etsy is known for being an unique network of creators and makers of nearly home-made items.
The profit was 1 cent a share, and this result kicked the analysts estimate: Loss of 3 cents a share. The company is making progress on growth metrics and are now in 19 percent in extended trading.
How did they manage to progress that much?
The focus in the company has been mobile sales and paid services. And all of those are available to sellers in the platform. The sales’ growth was a bit affected with the relationship between the U.S. dollar and other world currencies. However, the company managed to stabilize the purchase index in U.S. merchants thanks to the services offered to members of the network.
— Bloomberg (@business) February 24, 2016
Pattern is one of those new paid services available to merchants. The service lets the user build their own platform parallel to their Etsy’s traditional marketplace. This also included custom domain names and analytics to help the user understand their rhythm of sales and interactions with buyers. The paid service Pattern costs only $15 a month. Pattern is available since April with a 30-days free trial, and it also involves a mobile platform and plenty space to store information and data.
The future for Etsy
The total gross merchandise sales growth was not stable, and actually diminished 3 percent in comparison to 2015. Nonetheless, Etsy’s financial team is confident that the sales’ growth will stabilize in the next quarters. Meanwhile, the company will continue to use the strategy of offering services to make the platform more attractive. Thus, making Etsy a bigger network and a bigger business able to increase its income every year.
— goPRit (@_goprit) February 23, 2016