FVRR - How Fiverr Stock Soared 20% Higher Today
2023-08-03 14:20:05 ET
Shares of Fiverr International (NYSE: FVRR) caught a tailwind on Thursday. The operator of a freelance services marketplace reported robust business results Wednesday evening, beating Wall Street's expectations across the board. The stock hovered around a 20% gain at 1:45 p.m. ET today.
Fiverr's second-quarter sales increased by 5% year over year, landing at $89.4 million. Adjusted earnings more than tripled from $0.12 to $0.49 per share. The analyst consensus called for earnings near $0.41 per share on revenue in the neighborhood of $89.2 million.
The top-line result was in line with management's guidance for the quarter, while the period's profits came in well above the posted guidance range. Management raised its full-year profit guidance by 11%, citing strong interest in several freshly launched services alongside a more profitable business mix.
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How Fiverr Stock Soared 20% Higher Today