Upwork Stock Soars 11.49% on Strong Q1 Earnings

Upwork's stock surged by 11.49% in pre-market trading on May 6, 2025, driven by strong first-quarter earnings and revenue performance that exceeded market expectations.

Upwork reported earnings of $0.34 per share for the first quarter, surpassing the consensus estimate of $0.25 per share. This performance was bolstered by a record revenue of $192.7 million, highlighting the company's focus on cost discipline and accelerated execution.

The company's strategic emphasis on AI and enterprise solutions has contributed to its robust financial results. Upwork's management reiterated its revenue guidance for the full year, reflecting confidence in the company's growth trajectory.

Despite a 33% reduction in holdings by Ancient Art L.P. in the fourth quarter, Upwork's stock continues to attract investor interest, with a return on equity of 50.83% and a net margin of 23.45%.