Shares of Fiverr International Ltd. (NYSE: FVRR) skyrocketed 17.95% on October 30, 2024, after the online freelance marketplace reported better-than-expected third-quarter results and raised its guidance for the fourth quarter and full year. The company's strong performance and upbeat outlook fueled investor optimism, driving the stock's significant surge.
For the third quarter, Fiverr posted adjusted earnings per share of $0.64, surpassing analysts' consensus estimate of $0.59. Revenue grew 7.7% year-over-year to $99.63 million, beating expectations of $96.42 million. The company's solid results were driven by robust demand for its services and continued expansion in its marketplace.
Looking ahead, Fiverr raised its guidance for the fourth quarter and full year 2024, citing positive trends in its marketplace. The company now expects fourth-quarter revenue to range between $100.2 million and $102.2 million, higher than the previous consensus of $100.64 million. Adjusted EBITDA for the fourth quarter is projected to be between $19.5 million and $21.5 million. For the full year 2024, Fiverr raised its revenue guidance to $388 million to $390 million, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to $73 million to $75 million.
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