Upwork Reports First Quarter 2020 Financial Results

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Go back to Upwork Reports First Quarter 2020 Financial Results

Upwork Inc. (UPWK) Tops Q1 EPS by 3c, Revenues Beat; Offers 2Q Revenue Guidance Below Consensus

May 6, 2020 4:37 PM EDT

Upwork Inc. (NASDAQ: UPWK) reported Q1 EPS of ($0.03), $0.03 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $83.2 million versus the consensus estimate of $81.15 million.

First Quarter 2020 Financial Results

Gross services volume (GSV) increased by 15% year-over-year to $559.5 million;Revenue grew 21% year-over-year to $83.2 million;Marketplace revenue grew 24% year-over-year to $74.8 million;Marketplace take rate was 13.6%, up from 12.6% a year ago;Gross margin expanded three percentage points year-over-year to 72%;Net loss was... More