Investors Cheer Upwork's Q4 Performance, Stock Gains On Strong Guidance
Portfolio Pulse from Erica Kollmann
Upwork, Inc. (NASDAQ:UPWK) exceeded Q4 earnings and revenue expectations, reporting earnings of 20 cents per share and quarterly sales of $183.9 million, surpassing analyst estimates. The company also reported a 5% year-over-year increase in active clients, reaching 851,000. CEO Hayden Brown highlighted Upwork's growth momentum, profitability, and strategic investments in AI, advertising, subscription products, and partnerships. Upwork provided strong guidance for Q1 and full-year 2024, expecting higher earnings and revenue than analyst estimates. Following the announcement, Upwork shares rose by 4.99% in after-hours trading.
February 14, 2024 | 10:06 pm
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Upwork, Inc. (NASDAQ:UPWK) reported Q4 earnings and revenue above analyst expectations, with a significant year-over-year increase in active clients. The company's optimistic guidance for Q1 and full-year 2024 suggests continued growth.
Upwork's better-than-expected Q4 performance and optimistic future guidance indicate strong business health and growth prospects. This positive news is likely to boost investor confidence and drive short-term stock price appreciation.
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