Fiverr (NYSE:FVRR) earnings for the freelance service platform’s second quarter of 2020 have FVRR stock taking off on Wednesday. That’s thanks to its adjusted earnings per share of 10 cents beating out Wall Street’s estimate for a loss of 6 cents. Its revenue of $47.13 million is also well above analysts’ estimate of $36.54 million.
Now, let’s see what else went right for Fiverr in its most recent earnings report.
- Adjusted per-share earnings are a positive switch from an adjusted loss per share of 19 cents in Q2 2019.
- Revenue for the quarter is sitting 82% higher than the $25.91 million during the same time last year.
- Operating loss of $598,000 is a 93.6% improvement year-over-year from a loss of $9.32 million.
- The Fiverr earnings also have the company reporting a net loss of $124,000.
- That is 98.7% better than the company’s net loss of $9.35 million reported in the same period of the year prior.
Micha Kaufman, founder and CEO of Fiverr, said this about the earnings report.
“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.”
Fiverr also provides guidance for 2020 in its current earnings report. It’s expecting revenue for the year to come in between $177.5 million and $179.5 million. That will have it easily beating out Wall Street’s revenue estimate of $148.19 million in 2020.
FVRR stock was up 18% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
