Shares of Fiverr International Ltd. (NYSE: FVRR) surged 5.35% in pre-market trading on October 30, 2024, following the company's impressive third-quarter results and an upward revision to its full-year guidance. The online freelancing marketplace reported better-than-expected earnings and revenue, fueled by strong demand for its services and continued expansion in its marketplace.
For the third quarter, Fiverr posted adjusted earnings per share of $0.64, beating analysts' consensus estimate of $0.59 by 8.47%. Revenue grew 7.67% year-over-year to $99.628 million, surpassing expectations of $96.416 million. The company's solid performance was driven by robust trends in its marketplace, prompting management to raise its guidance for the fourth quarter and full year 2024.
Fiverr now expects fourth-quarter revenue to range between $100.2 million and $102.2 million, higher than the previous consensus of $100.641 million. Adjusted EBITDA for the fourth quarter is projected to be between $19.5 million and $21.5 million. For the full year 2024, the company raised its revenue guidance to $388.0 million to $390.0 million, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to $73.0 million to $75.0 million.
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