June 14, 2018 / 12:40 PM / 4 months ago

Etsy raises 2018 revenue forecast, shares surge

June 14 (Reuters) - Etsy Inc on Thursday raised its full-year forecast for revenue growth and increased its transaction fee for sellers, sending the e-commerce company’s shares up more than 10 percent in premarket trading.

Th company said it expected revenue growth of 32 percent to 34 percent in 2018, up from its previous forecast of 22 percent to 24 percent.

Etsy said it would raise the transaction fee it charges when a seller makes a sale to 5 percent from 3.5 percent and this would also apply to the cost of shipping.

Shares of Etsy rose 10.6 percent to $36.50. (Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D’Silva)

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