Here's What Key Metrics Tell Us About Upwork (UPWK) Q3 Earnings
Upwork (UPWK) reported $175.73 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 10.8%. EPS of $0.21 for the same period compares to -$0.03 a year ago.
The reported revenue represents a surprise of +4.08% over the Zacks Consensus Estimate of $168.84 million. With the consensus EPS estimate being $0.11, the EPS surprise was +90.91%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Upwork performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gross services volume: $1 billion compared to the $1.02 billion average estimate based on two analysts.
Revenues- Managed services: $13.99 million compared to the $12.79 million average estimate based on three analysts. The reported number represents a change of +3.7% year over year.
Revenues- Marketplace: $161.74 million compared to the $156.05 million average estimate based on three analysts.
View all Key Company Metrics for Upwork here>>>
Shares of Upwork have returned +1.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Upwork Inc. (UPWK) : Free Stock Analysis Report
