Online work marketplace Upwork (NASDAQ: UPWK) will be announcing earnings results this Monday after the bell. Here’s what to expect.
Upwork beat analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $194.9 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations. It reported 796,000 active customers, down 8.3% year on year.
Is Upwork a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Upwork’s revenue to be flat year on year at $193.4 million, slowing from the 10.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Upwork has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.4% on average.
Looking at Upwork’s peers in the consumer internet segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Carvana delivered year-on-year revenue growth of 54.5%, beating analysts’ expectations by 11.1%, and Coinbase reported revenues up 55.1%, topping estimates by 4.5%. Carvana traded down 13.8% following the results while Coinbase was up 4.4%.
Read our full analysis of Carvana’s results here and Coinbase’s results here.
The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.7% on average over the last month. Upwork is down 7% during the same time and is heading into earnings with an average analyst price target of $20.10 (compared to the current share price of $16.06).
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