Why Upwork Stock Blasted 18% Higher on Tuesday
Shares of Upwork (NASDAQ: UPWK) were really putting in the work for investors on Tuesday. The job and human resources tech specialist's stock enjoyed an 18% rise across the day thanks to a first-quarter earnings report that many investors found very heartening. That increase made the stock quite the outperformer, as the S&P 500 index closed with a 0.8% decrease.Upwork reported those figures after market close on Monday, divulging that it notched new all-time high Q1 revenue of $192.7 million. This was a 1% improvement over the same period of 2024. More impressive than that was the company's non-GAAP (adjusted) net income leaped to almost $48.4 million, or $0.34 per share, from the year-ago quarter's nearly $30.6 million. Image source: Getty Images.Continue reading
Shares of Upwork (NASDAQ: UPWK) were really putting in the work for investors on Tuesday. The job and human resources tech specialist's stock enjoyed an 18% rise across the day thanks to a first-quarter earnings report that many investors found very heartening. That increase made the stock quite the outperformer, as the S&P 500 index closed with a 0.8% decrease.
Upwork reported those figures after market close on Monday, divulging that it notched new all-time high Q1 revenue of $192.7 million. This was a 1% improvement over the same period of 2024. More impressive than that was the company's non-GAAP (adjusted) net income leaped to almost $48.4 million, or $0.34 per share, from the year-ago quarter's nearly $30.6 million.
Image source: Getty Images.
