BROOKLYN, N.Y. (AP) — BROOKLYN, N.Y. (AP) — Etsy Inc. (ETSY) on Wednesday reported first-quarter profit of $74.5 million.

The Brooklyn, New York-based company said it had net income of 53 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The online crafts marketplace posted revenue of $640.9 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $623.2 million.

For the current quarter ending in June, Etsy said it expects revenue in the range of $590 million to $640 million.


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