Upwork Reports Strong Q4 Earnings, Exceeding Expectations
Upwork Inc. (UPWK) announced its fourth-quarter financial results on Wednesday, reporting earnings of $147.2 million or $1.03 per share. Adjusted for non-recurring gains, earnings reached 30 cents per share, surpassing analysts' consensus of 28 cents.
Revenue for the quarter was $191.5 million, above the $180.2 million estimated by Street forecasters. For the full year, the company generated revenue of $769.3 million and earnings of $215.6 million or $1.52 per share.
Looking ahead, Upwork expects earnings per share between 24 cents and 26 cents in the current quarter ending March. Revenue projections for the first fiscal quarter are set at a range of $186 million to $191 million.
For the entire fiscal year, the company anticipates earnings between $1.05 and $1.10 per share and revenue in the range of $740 million to $760 million.