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

Core Insights - Upwork Inc. (NASDAQ:UPWK) experienced a significant stock surge of 13.24% to close at $17.70, driven by strong earnings and an optimistic growth outlook for the full year [1][3]. Financial Performance - In Q3, Upwork reported a net income increase of 6% to $29.3 million, up from $27.7 million year-on-year, while total revenues rose by 4% to $201.7 million from $193.78 million [2]. - For Q4, Upwork is targeting revenues between $193 million and $198 million, with adjusted EBITDA projected at $49 million to $52 million [4]. Growth Outlook - Upwork raised its full-year 2025 revenue forecast to a range of $782 million to $787 million, up from the previous estimate of $765 million to $775 million [3]. - The adjusted EBITDA outlook was also increased to between $222 million and $225 million, compared to the earlier forecast of $206 million to $214 million [3]. Strategic Initiatives - The company is focusing on enhancing user productivity and engagement through its human and AI-powered work marketplace, marking a new chapter in its growth strategy [4]. - Upwork's President and CEO emphasized the execution of growth strategies across AI, SMB, and Enterprise sectors, aiming for sustained multi-year growth [5].