Fiverr Rises On Upbeat Q1 Results, Outlook

(RTTNews) - Shares of Fiverr International Ltd. (FVRR), an online marketplace for freelance services, are rising more than 3% Thursday morning after reporting first-quarter results, that came in above analysts' view. The company also raised its full-year revenue outlook.

Fiverr reported a net loss of $4.3 million, or $0.11 per share for the first quarter, narrower than $17.0 million, or $0.46 per share loss in the comparable quarter last year.

Excluding one-time items, the company reported earnings of $14.6 million or $0.36 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.24 per share.

Revenue in the quarter was $88.0 million, compared to $86.7 million last year, an increase of 1.5% year over year. The consensus estimate was for $87.66 million.

Looking forward, the company has raised its full-year revenue outlook to $355.0 million - $365.0 million from $350.0 million - $365.0 million provided earlier. Analysts are looking for an annual revenue of $359.57 million.

For the second quarter, revenue is expected between $88.0 million and $90.0 million. The consensus estimate stands at $88.5 million.

FVRR, currently at $29.64, has traded in the range of $26.16-$47.66 in the last 1 year.