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VOL. 133 | NO. 120 | Friday, June 15, 2018

Etsy raises fees and revenue outlook, shares soar

The Associated Press

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BROOKLYN, N.Y. (AP) — Etsy's stock is soaring after the online crafts company announced an increase in fees and boosted its revenue outlook for the year.

The Brooklyn company said Thursday that the transaction fee charged when a person or business makes a sale will rise from 3.5 percent, to 5 percent. It will also apply to the shipping cost. The fee will be increased starting on July 16.

Etsy Inc. has 2 million active sellers and nearly 35 million active buyers.

The company now sees 2018 revenue growth of between 32 percent and 34 percent. Its prior forecast was for 22 percent to 24 percent growth.

Shares jumped 28 percent in afternoon trading to $42.12. The stock has doubled in the year to date.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 69 357 17,741
MORTGAGES 66 403 20,438
FORECLOSURE NOTICES 0 26 2,671
BUILDING PERMITS 208 696 36,641
BANKRUPTCIES 52 210 11,374
BUSINESS LICENSES 22 115 5,824
UTILITY CONNECTIONS 25 90 6,804
MARRIAGE LICENSES 21 107 4,023