BROOKLYN, N.Y. (AP) _ Etsy Inc. (ETSY) on Wednesday reported first-quarter net income of $143.8 million.

The Brooklyn, New York-based company said it had net income of $1 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The online crafts marketplace posted revenue of $550.6 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $532.6 million.

For the current quarter ending in July, Etsy said it expects revenue in the range of $493 million to $536 million.

Etsy shares have risen nearly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $184.57, more than doubling 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

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