Upwork: Q1 Earnings Snapshot

April 27, 2022 GMT

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.

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Upwork expects full-year revenue in the range of $590 million to $610 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPWK at https://www.zacks.com/ap/UPWK