Etsy shares skyrocket on Google mention

Shares of Etsy (ETSY) skyrocketed and closed more than 30% higher Friday after the online crafts seller got a bullish mention from an executive of search engine giant Google (GOOG).

The stock closed up 30.60% or $5.15 at $21.98 on heavy volume of 11.28 million shares.

Speaking during Google's second-quarter earnings call late Thursday, Chief Business Officer Omid Kordestani said Google has found success helping searchers find what they need within third-party apps via indexing.

The company now has 50 billion links within apps indexed, and 25% of signed-in Google browser searchers on the Android mobile operating system now return deep links that take users to specific content within an app.

"Developers like Etsy are already seeing a boost in traffic as a result of deep linking," said Kordestani.

Friday's trading jump gave Brooklyn, N.Y.-based Etsy its biggest one-day gain in the company's brief trading history following its initial public offering on April 16.

But even with Friday's gain, the share price remained roughly 26.7% below the $30 closing price for Etsy's first day of public trading.

Etsy disappointed investors in May when the company reported a wider first-quarter net loss than for the same period in the previous year. Etsy said the loss totaled $36.6 million, compared with a loss of $500,000 in 2014. The company attributed much of the loss to non-cash, non-operating expenses related to an updated global corporate structure implemented on Jan. 1.

Total revenue for the quarter was up 44% compared to the same time in 2014, Etsy reported.

Follow USA TODAY reporter Kevin McCoy on Twitter: @kmccoynyc.