Upwork Inc. (UPWK) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, UPWK's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
The company reported better-than-expected results for its third quarter.
Upwork CEO Hayden Brown joins CNBC's 'The Exchange' to discuss the market for freelance work, trends she is seeing in AI, and more.
The online employment marketplace posted solid third-quarter results.
Upwork Inc. UPWK reported better-than-expected third-quarter results after Wednesday's closing bell.
Upwork Inc. (UPWK) Q3 2024 Earnings Call Transcript
Although the revenue and EPS for Upwork (UPWK) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Upwork (UPWK) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.21 per share a year ago.
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 margins, and strong app ratings.
Upwork (UPWK) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.