Etsy Inc. reported its quarterly revenue from demand for personalized products on its e-commerce platform. The company’s shares went up around 2% in extended trading. Etsy marketplace revenue increased by over 9%, mainly driven by the increase in transaction fees that a business has to pay whenever it processes a customer’s payment, which ranges from 5% to 6.5%.
Etsy’s net revenue rose 10.6% to $640.9 million in the quarter ended March 31. Furthermore, the company forecasts its second-quarter revenue between $590 million and $640 million, while analysts expect it to reach $625.4 million.
Read more: Etsy tops revenue estimates on demand for personalized products, higher fees
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