Stock Track | Upwork Soars 6.70% After Hours as Record Q4 Revenue and Profit Drive Growth Outlook

Stock Track

02-13

Shares of Upwork Inc. (UPWK) surged 6.70% in after-hours trading on Wednesday after the company reported strong fourth quarter and full year 2024 financial results.

The key driver behind the stock rally was Upwork's record revenue of $191.5 million for Q4, beating consensus estimates of $180.4 million. The company also delivered its highest ever adjusted EBITDA of $50.2 million or 26% margin. For the full year 2024, Upwork reported revenue of $769.3 million, GAAP net income of $215.6 million, and adjusted EBITDA of $167.6 million.

Upwork's strong performance was driven by the increasing adoption of its AI-powered work solutions and robust growth in its AI-related work category. The company's GSV from AI-related work grew 60% year-over-year in 2024, while the number of clients engaging in AI-related projects increased 42%. Upwork's CEO Hayden Brown highlighted the company's progress in bringing new AI innovations to market, positioning it to gain further market share as a trusted source of high-quality talent and work outcomes powered by AI.

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(UPWK) surged 6.70% in after-hours trading on Wednesday after the company reported strong fourth quarter and full year 2024 financial results.</p>\n\n<p>The key driver behind the stock rally was Upwork's record revenue of $191.5 million for Q4, beating consensus estimates of $180.4 million. The company also delivered its highest ever adjusted EBITDA of $50.2 million or 26% margin. For the full year 2024, Upwork reported revenue of $769.3 million, GAAP net income of $215.6 million, and adjusted EBITDA of $167.6 million.</p>\n\n<p>Upwork's strong performance was driven by the increasing adoption of its AI-powered work solutions and robust growth in its AI-related work category. The company's GSV from AI-related work grew 60% year-over-year in 2024, while the number of clients engaging in AI-related projects increased 42%. Upwork's CEO Hayden Brown highlighted the company's progress in bringing new AI innovations to market, positioning it to gain further market share as a trusted source of high-quality talent and work outcomes powered by AI.</p>\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":"","article_id":"1123513298","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1123513298","pubTimestamp":1739395960,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Upwork Inc.  surged 6.70% in after-hours trading on Wednesday after the company reported strong fourth quarter and full year 2024 financial results.The key driver behind the stock rally was Upwork's record revenue of $191.5 million for Q4, beating consensus estimates of $180.4 million. 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