BROOKLYN, N.Y. (AP) _ Etsy Inc. (ETSY) on Wednesday reported first-quarter profit of $12.5 million.

The Brooklyn, New York-based company said it had net income of 10 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The online crafts marketplace posted revenue of $228.1 million in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $219.1 million.

Etsy shares have risen 77% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $78.24, an increase of 13% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETSY at https://www.zacks.com/ap/ETSY

Automated Insights, source Associated Press News