Why Fiverr International Stock Jumped Today
Freelance marketplace operator Fiverr International (NYSE: FVRR) reported fantastic third-quarter results on Wednesday morning, sending the stock skyward. Share prices rose as much as 30.4% in the morning session, retreating to a still-impressive 15% gain by 12:45 p.m. ET.
Fiverr's third-quarter revenues rose 8% year over year to $99.6 million. A 9% smaller number of freelance service buyers spent 9% more per order. Fiverr's top-line growth stemmed from a significantly larger cut of each transaction, as the company's take rate rose from 31.3% to 33.9%.
Adjusted earnings per diluted share landed at $0.55, down from $0.64 in the year-ago period. At the same time, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 19% to $19.7 million.
Source Fool.com
