Shares of Etsy (ETSY, Financial) jumped more than 8% Tuesday after reporting second-quarter earnings per share of 3 cents on revenue of $132.39 million, a 30.2% year-over-year increase. The company fell 1 cent short of earnings estimates, but beat revenue expectations by $5.27million.
"Second quarter revenue increased 30.2% from the prior year, with continued growth in Marketplace revenue and out-performance in Services revenue," Chief Financial Officer Rachel Glaser said. "We've made meaningful progress to enable significantly more investment in the Etsy platform, and are leveraging our strong financial position to support what we believe is a long runway for future growth."
The gross profit was $87 million, up 31.8% year over year, and the gross margin was 65.7%, up 80 basis points from the prior-year quarter.
The company raised its 2018 revenue guidance to 33% to 35% growth.
Shares of Mallinckrodt PLC (MNK, Financial) gained more than 20% on Tuesday after reporting second-quarter earnings per share of $1.78 on $631.7 million in revenue. The company beat earnings estimates by 30 cents and revenue estimates by $11.3 million.
Denbury Resources Inc. (DNR, Financial) traded higher on Tuesday after reporting second-quarter earnings per share of 13 cents on revenue of $387.06 million. The company beat revenue estimations by $49.7 million and earnings estimates by 2 cents.
The adjusted cash flow from operations, which is a non-GAAP measure, was $134 million, up 7% from previous quarter and up 106% from the comparable quarter of 2017.
Looking ahead, the projected capital budget remains in an estimated range of approximately $300 million to $325 million.
Disclosure: The author holds no positions in any stocks mentioned.
