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Upwork (UPWK) Gets 13% Boost from Q3 Blowout, Upbeat Outlook

We recently published 10 Firms Stealing Market Spotlight Amid Bloodbath. Upwork Inc. (NASDAQ:UPWK) is one of the best-performing stocks on Tuesday.

Upwork ended a four-day loss on Tuesday, surging 13.24 percent to close at $17.70 apiece as investors took heart from its impressive earnings performance and higher growth outlook for the full-year period.

In an updated report, Upwork Inc. (NASDAQ:UPWK) said it grew its net income by 6 percent in the third quarter of the year to $29.3 million from $27.7 million in the same period last year, while total revenues rose by 4 percent to $201.7 million from $193.78 million year-on-year.

Goran Bogicevic/Shutterstock.com

Encouraged by the results, Upwork Inc. (NASDAQ:UPWK) raised its growth outlook for full-year 2025, with revenues now expected at $782 million to $787 million, versus the $765 million to $775 million projected previously.

Adjusted EBITDA outlook was also raised to a range of $222 million to $225 million from the $206 million to $214 million expected prior.

For the fourth quarter alone, Upwork Inc. (NASDAQ:UPWK) was targeting revenues to settle at $193 million to $198 million, while adjusted EBITDA was pegged at $49 million to $52 million.

“The third quarter marked the start of the next chapter for Upwork. As we build the world’s human and AI-powered work marketplace, we’re driving phenomenal user productivity and engagement, resulting in a return to positive GSV growth,” President and CEO Hayden Brown said.

“We are executing with speed and precision across our growth levers of AI, SMB, and Enterprise, and are now on the path to sustained, multi-year growth,” she noted.

While we acknowledge the risk and potential of UPWK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than UPWK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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