Shares of Fiverr International (NYSE: FVRR) popped on Wednesday after the online freelance marketplace reported progress toward its long-term profit targets. As of 3:33 p.m. ET, Fiverr's stock price was up more than 18%.
Fiverr's revenue rose 4% year over year to $83.1 million in the fourth quarter. The number of active buyers of freelance services on Fiverr's platform grew by 1% to 4.3 million. Additionally, spending per buyer increased by 8% to $262.
Fiverr now facilitates transactions in 600 service categories. New categories, such as artificial intelligence (AI), are helping to expand the company's addressable market and drive more buyers to its platform.
Source Fool.com