Investing.com Etsy Inc (NASDAQ:) Wednesday’s fourth quarter earnings beat forecasts by analysts and generated revenue above expectations.

Etsy reported earnings per share at 62c on $532.4 million in revenue. According to analysts polled Investing.comOn revenue of $519.05 millions, EPS was expected to be 54c.

Josh Silverman from Etsy was optimistic about the quarter’s performance. “Last years, Etsy outperformed all ecommerce industry benchmarks. And now in 2021, that performance is being repeated with flying colors. This reinforces the substantial market share gains we made.”

He also stated that many potential buyers found the company through the pandemic and have since stayed with it, indicating that there has been a slowdown post-pandemic.

Etsy stated that it expected revenue between $660 million to $690 million for Q4. For Q4, revenue guidance consensus was $689.94million.

“We anticipate that Etsy’s highly distributed supply chain, with creative entrepreneurs located around the globe, is ready to serve the world in ways many others can’t this holiday season. Silverman said that our guidance suggests the fourth quarter would be our most successful.

Etsy shares dropped by over 3.4% in the hours following.