Upwork: Q1 Earnings Snapshot
SAN FRANCISCO (AP) _ Upwork Inc. (UPWK) on Wednesday reported a loss of $24.7 million in its first quarter.
The San Francisco-based company said it had a loss of 19 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The online freelance marketplace operator posted revenue of $141.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $133.7 million.
For the current quarter ending in July, Upwork expects its results to range from a loss of 10 cents per share to a loss of 6 cents per share.
The company said it expects revenue in the range of $147 million to $151 million for the fiscal second quarter.
Upwork expects full-year revenue in the range of $590 million to $610 million.