Upwork(US:UPWK) Yahoo Financeยท2025-11-05 00:49Core Insights - Upwork's shares increased by 13% following a positive third-quarter financial report [1] Financial Performance - Upwork's revenue grew by 4% year over year to $201.7 million, driven by increased client spending on freelancers [3] - The company's gross services volume (GSV) rose by 2%, marking the first increase in five quarters [3] - Free cash flow increased by 22% to $69.4 million, indicating improved profit margins as operations scale [4] Strategic Initiatives - CEO Hayden Brown attributed GSV growth to the company's artificial intelligence (AI) initiatives, with a 45% increase in clients participating in AI-related projects compared to Q3 2024 [4] - Management announced a $100 million share repurchase authorization, utilizing excess cash to reward shareholders [5] Future Outlook - Upwork raised its full-year sales and profit forecast, expecting revenue between $782 million and $787 million and adjusted earnings per share of $1.35 to $1.37 in 2025 [6] - Management views Q3 2025 as a pivotal quarter, marking a return to growth on a profitable foundation [6]