Zinger Key Points
- Upwork beat Q1 earnings and revenue expectations, showing improved client growth and profitability.
- The company raised its full-year profit forecast, pushing shares up over 18%.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
Upwork Inc. UPWK shares are trading higher Tuesday following better-than-expected first-quarter earnings and an upward revision to its full-year profit forecast.
What To Know: The company reported adjusted earnings of 34 cents per share, beating the consensus estimate of 26 cents. Revenue came in at $192.71 million, also ahead of forecasts and slightly higher than the $190.94 million reported in the same quarter last year.
The number of active clients reached 812,000 and gross services volume per client increased 3% year-over-year, marking the first positive growth in that metric in six quarters.
Upwork also raised its full-year 2025 adjusted earnings per share guidance to a range of $1.14 to $1.18, up from the previous range of $1.05 to $1.10. That new guidance exceeds Wall Street's estimate of $1.07. The company maintained its full-year revenue outlook between $740 million and $760 million, roughly in line with expectations.
UPWKL Price Action: Upwork shares were up 19% at $15.85 at the time of writing, according to Benzinga Pro.
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