Upwork Shares Rise After 3Q Results, Deal to Buy Objective AI

Dow Jones

2024-11-07

By Stephen Nakrosis

Shares of Upwork were trading higher in the after-hours market Wednesday, following the release of third-quarter financial results and news the company has agreed to buy Objective AI.

Upwork said the Objective AI acquisition would enhance its core search and match performance, and strengthen its AI and machine learning team, among other benefits.

After the bell, shares of Upwork hit $16.80, before giving back some gains. At 6:30 p.m., shares were trading 5.8% higher, at $15.42.

The stock hit a 52-week intraday high of $16.36 on Jan. 9.

Shares finished the day's regular session with a 1.3% gain, closing at $14.58.

The work marketplace reported third-quarter earnings per share of 20 cents on revenue of $193.8 million. Analysts were expecting EPS of 14 cents on revenue of $185.9 million, according to FactSet.

Upwork also said it was expecting fourth-quarter revenue in a range of $178 million to $183 million, and 2024 revenue in a range of $756 million to $761 million. Previously, the company said it was expecting 2024 revenue in a range of $735 million to $745 million.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 06, 2024 18:30 ET (23:30 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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At 6:30 p.m., shares were trading 5.8% higher, at $15.42. \n</p>\n<p>\n  The stock hit a 52-week intraday high of $16.36 on Jan. 9. \n</p>\n<p>\n  Shares finished the day's regular session with a 1.3% gain, closing at $14.58. \n</p>\n<p>\n  The work marketplace reported third-quarter earnings per share of 20 cents on revenue of $193.8 million. Analysts were expecting EPS of 14 cents on revenue of $185.9 million, according to FactSet. \n</p>\n<p>\n  Upwork also said it was expecting fourth-quarter revenue in a range of $178 million to $183 million, and 2024 revenue in a range of $756 million to $761 million. Previously, the company said it was expecting 2024 revenue in a range of $735 million to $745 million. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Stephen Nakrosis at stephen.nakrosis@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 06, 2024 18:30 ET (23:30 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UPWK","symbol_name":"Upwork Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481241964","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481241964","pubTimestamp":1730935800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Upwork were trading higher in the after-hours market Wednesday, following the release of third-quarter financial results and news the company has agreed to buy Objective AI.Upwork said the Objective AI acquisition would enhance its core search and match performance, and strengthen its AI and machine learning team, among other benefits.After the bell, shares of Upwork hit $16.80, before giving back some gains. 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Previously, the company sa","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"UPWK":"Upwork Inc.","BK4130":"人力资源与就业服务"},"translate_title":"Upwork股价在第三季度业绩公布并收购Objective AI后上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UPWK":0.9},"content_text":"By Stephen Nakrosis \n\n\n \n\n\n  Shares of Upwork were trading higher in the after-hours market Wednesday, following the release of third-quarter financial results and news the company has agreed to buy Objective AI. \n\n\n  Upwork said the Objective AI acquisition would enhance its core search and match performance, and strengthen its AI and machine learning team, among other benefits. \n\n\n  After the bell, shares of Upwork hit $16.80, before giving back some gains. At 6:30 p.m., shares were trading 5.8% higher, at $15.42. \n\n\n  The stock hit a 52-week intraday high of $16.36 on Jan. 9. \n\n\n  Shares finished the day's regular session with a 1.3% gain, closing at $14.58. \n\n\n  The work marketplace reported third-quarter earnings per share of 20 cents on revenue of $193.8 million. Analysts were expecting EPS of 14 cents on revenue of $185.9 million, according to FactSet. \n\n\n  Upwork also said it was expecting fourth-quarter revenue in a range of $178 million to $183 million, and 2024 revenue in a range of $756 million to $761 million. Previously, the company said it was expecting 2024 revenue in a range of $735 million to $745 million. \n\n\n \n\n\n  Write to Stephen Nakrosis at stephen.nakrosis@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 06, 2024 18:30 ET (23:30 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}