Upwork: Record Revenue, EPS Beat in Q4
Upwork surprised with strong earnings, yet GSV and active clients showed signs of decline.
Online work marketplace Upwork (NASDAQ:UPWK) reported fourth-quarter earnings on Wednesday, Feb. 12, that topped analysts' consensus top- and bottom-line expectations. Record-breaking quarterly revenue of $191.5 million surpassed estimates of $180 million and were up 4.1% year over year. Adjusted diluted earnings per share (EPS) of $0.30 outpaced the $0.25 forecast.
Although the financial results reflected strong earnings, the decline in gross services volume and active client numbers highlighted potential areas of concern for continued growth.
Source: Upwork. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year. EBITDA = Earnings before interest, taxes, depreciation, and amortization.
