Upwork Stock Rallies After Better-Than-Expected Q1, Raised FY25 EPS Guidance

Upwork, Inc.  UPWK released its first-quarter results after Monday's closing bell. Here's a look at the details from the report. 

The Details: Upwork reported quarterly earnings of 34 cents per share which beat the analyst consensus estimate of 26 cents. Quarterly revenue came in at $192.71 million, which beat the analyst consensus estimate of $188.32 million and is up from revenue of $190.94 million from the same period last year.

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The company reported 812,000 active clients and GSV per active client of $4,912, which increased 3% year-over-year, reflecting positive growth for the first time in six quarters.

“Upwork is off to a strong start in 2025, delivering record first-quarter results across revenue and profitability, a testament to the team’s accelerated execution and the resilience of our business model,” said Hayden Brown, CEO of Upwork.

“We are incredibly excited by the early impact of our strategic product investments in AI, which are already enhancing customer productivity and engagement. With positive momentum across our business and a winning strategy for AI innovation, we are confident in our path to expand market share, drive ongoing profitability, and continue to be the category leader at the intersection of talent, technology and work,” Brown added.

Outlook: Upwork raised its fiscal 2025 adjusted earnings per share guidance from a range of $1.05 to $1.10 to a range of $1.14 to $1.18, versus the $1.07 analyst estimate. The company affirmed its fiscal year revenue guidance of $740 million to $760 million, versus the $750.22 million estimate.

UPWK Price Action: According to data from Benzinga Pro, Upwork stock was up 11.49% after hours at $14.85 on Monday.  

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