Fiverr International (NYSE:FVRR) shares have popped higher today after the company reported its second-quarter financial results, smashing analysts estimates…
The company turned a profit based on its adjusted EBITDA which was $3.1 million, earlier than initially expected, causing Fiverr to raise its guidance for the rest of the current year.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Fiverr is a website that connects freelancers and gig workers to a customer base, and its business seems to have thrived as the coronavirus put everyone into lockdown and people resorted to looking for other streams of income.
Its revenue increased 82% year on year to $47.1 million, which is also a 38% increase in comparison to the previous quarter, with estimates expecting revenue to come in at £35.5-$36.5 million.
Fiverr’s stock price has surged higher and is currently at the $123 level, an 18.02% rise after yesterday’s close. It means the company’s stock price has risen a staggering 409.38% since the beginning of the year.
Fiverr founder and CEO Micha Kaufman said, “We have delivered an outstanding quarter of results as our strong execution amidst the Covid-19 pandemic resulted in 82% y/y growth in revenue and Adjusted EBITDA profitability. I’m incredibly proud that Fiverr has been playing an important role in the livelihoods of individuals and businesses everywhere during this challenging global environment.
The company went on to say that the number of active buyers on the platform grew 28% to 2.8 million, with buyers individual spend increasing as well.
Yesterday Fiverr’s rival, Upwork, announced that its revenue had risen 19%.
