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Fiverr International Ltd (NYSE:FVRR) is trading higher Wednesday after the company announced better-than-expected third-quarter financial results and issued guidance above estimates.
Fiverr reported quarterly earnings of 19 cents per share, which beat the estimate for a loss of 1 cent per share. The company reported quarterly revenue of $74.32 million, which beat the estimate of $71.1 million, representing an increase of 42% year-over-year.
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Fiverr expects fourth-quarter revenue to be in a range of $74.5 million to $77.5 million versus the estimate of $72.78 million.
"Fiverr delivered a strong third quarter as we saw revenue growth of 42% y/y. We are also making exciting progress towards our long-term vision of the future of work with the acquisitions of CreativeLive and Stoke Talent, further strengthening our value proposition to increase market share in our massive TAM," said Micha Kaufman, founder and CEO of Fiverr.
Fiverr is involved in buying and selling digital services in the same fashion as physical goods on its e-commerce platform.
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FVRR Price Action: Fiverr has traded as high as $336 and as low as $129.21 over a 52-week period.
The stock was up 15% at $185.20 at time of publication.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.