Etsy Inc. (ETSY - Free Report) released its fourth quarter financial results of 2016, posting earnings of $0.03 per share and revenues of $110.2 million.

Currently, Etsy is a Zacks Rank #3 (Hold) and is down 5.24% to $12.12 per share in trading shortly after its earnings report was released.

Beat earnings estimates. The company posted earnings of $0.03 per share (excluding $0.22 from non-recurring items), beating the Zacks Consensus Estimate of $0.01 per share.

Beat revenue estimates. The company saw revenue figures of $110.2 million, topping our consensus estimate $107 million.

Etsy’s Q4 revenue was $110.2 million, up 25.4% from the same period a yearago. The company also saw strong growth in their gross profit. Gross profit was $73.2 million, up 26.9% year-over-year.

For 2017, Etsy is expecting to launch their market that is dedicated to craft supplies in April. The buyers will not only be able to find materials while shopping but also tutorials and craft ideas. The company is also looking to give more controls to its seller by giving them a channel to track orders, manage inventory, view metrics and have conversation with buyers.

"We delivered fourth quarter and full year financial results that exceeded our guidance, introduced new products such as Google Shopping and launched our first-ever global brand campaign,” said Chad Dickerson, Etsy, Inc. CEO and Chairman.

“We kicked off 2017 by unveiling Etsy Studio, a new global craft supplies market, and by revamping the seller experience with the launch of our new streamlined seller dashboard, Shop Manager. These announcements underscore our bold, ambitious efforts to support creative entrepreneurs and we believe they create new long-term growth opportunities for Etsy. We are very excited about our future," He continued.

Here’s a graph that looks at Etsy:

Etsy, Inc. Price and Consensus

Etsy, Inc. Price and Consensus | Etsy, Inc. Quote

Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company's product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York.