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When Etsy Inc. (NASDAQ: ETSY) reported its most recent quarterly results after the markets closed on Monday, the company posted $0.03 in earnings per share (EPS) and $132.4 million in revenue. Consensus estimates from Thomson Reuters had called for $0.04 in EPS and $132.39 million in revenue, and the same period of last year had EPS of $0.10 on $101.69 million in revenue.

During the latest quarter, gross merchandise sales (GMS) were $901.7 million, up 20.4% compared with the second quarter of 2017. The company accelerated GMS growth by 60 basis points compared with the first quarter of 2018, marking the fourth consecutive quarter of sequential acceleration in this metric on an as-reported basis.

Etsy noted that it had 1.98 million active sellers, an increase of 8.1% year over year. At the same time, active buyers increased 17.2% to 35.8 million.

Looking at the 2018 full year, the company expects to see revenues in the range of $587 million to $596 million, with GMS of roughly $3.84 billion to $3.90 billion and adjusted EBITDA of $124 million to $136 million. Consensus estimates call for $0.47 in EPS and $589.46 million in revenue.

Josh Silverman, Etsy CEO, commented:

Etsy delivered another quarter of strong performance, including our fourth consecutive quarter of GMS acceleration, continued evidence that increased investments in our core marketplace are working. We announced the first pricing change in the history of the company, further improving our ability to reinvest in our seller community.

Shares of Etsy closed Monday at $42.43, with a consensus analyst price target of $45.00 and a 52-week range of $15.13 to $45.88. Following the announcement, the stock was up over 10% at $46.90 in early trading indications Tuesday.