Upwork Stock News

The company reported better-than-expected results for its third quarter.

The online employment marketplace posted solid third-quarter results.

Upwork Inc. (UPWK) Q3 2024 Earnings Call Transcript

Achieves 10% year-over-year revenue growth, record GAAP net income of $27.8 million and adjusted EBITDA of $43.2 million Third-quarter GAAP diluted EPS of $0.20 Raises FY 2024 guidance for revenue and adjusted EBITDA Enters definitive agreement to acquire Objective to enhance core search and match offerings and strengthen AI talent bench Announces new $100 million share repurchase progra m auth...

The world's largest digital freelance platform, Upwork Inc. NASDAQ: UPWK, took proactive measures ahead of its upcoming third quarter of 2024 earnings release due out Nov. 6, 2024. The company preannounced upside Q3 guidance along with organizational changes in its efforts to drive profits.

Upwork might soon be a slimmer, more effective, and profitable company.

Upwork and Fiverr have seen steep declines due to concerns over slowing revenue growth, partly driven by AI replacing some freelancing services. While AI has reduced demand for simple tasks like logo design, it has boosted freelancer productivity and created new service opportunities. Both platforms are attractively priced, but Fiverr stands out with better engagement metrics, higher gross marg...

Upwork just published preliminary Q3 results and major restructuring news -- and Wall Street is feeling very bullish about the update.