Etsy, Inc. (ETSY) shares surged 9.83 percent to $48.38, up $4.33 on Thursday, even after the company reported a year-over-year decline in fourth-quarter earnings. Investors appeared encouraged by revenue growth during the period despite softer profitability.
The stock is currently trading at $48.38, compared with a previous close of $44.05 on the New York Stock Exchange. It opened at $48.56 and has traded between $44.97 and $49.41 so far in the session. Trading volume stands at 4.14 million shares, above its average volume of 3.38 million shares.
The stock has traded in a 52-week range of $40.05 to $76.51.
For the fourth quarter, the company reported net earnings of $110.73 million, or $0.92 per share, down from $129.90 million, or $1.03 per share, in the same period last year. Revenue rose 3.5 percent to $881.63 million from $852.16 million a year earlier.
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