Welcome to our dedicated page for Upwork news (Ticker: UPWK), a resource for investors and traders seeking the latest updates and insights on Upwork stock.
Upwork Inc. (symbol: UPWK) is the world's largest online work marketplace that connects businesses with skilled independent professionals. Headquartered in the United States, Upwork offers a robust platform where over 30% of Fortune 100 companies and entrepreneurs of all sizes can collaborate with talent across diverse fields. With product offerings such as Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll, the platform provides scalable solutions tailored to the needs of various business segments.
In 2021, the Upwork talent community earned over $3.3 billion through the platform, demonstrating its significant economic impact. Upwork facilitates connections across more than 10,000 skills, including website and app development, creative and design, customer support, finance and accounting, consulting, and operations. Its comprehensive global reach spans the USA, India, the Philippines, and beyond, enhancing its value proposition for both talent and clients worldwide.
Recently, Upwork has strengthened its market position through strategic partnerships with top-tier providers of generative AI tools and learning resources, including Adobe, Amazon, ClickUp, and Miro. These collaborations aim to elevate productivity and skills among the freelancers on the platform, fitting AI seamlessly into their workflows. Furthermore, Upwork has introduced the Upwork Chat Pro, a generative AI application powered by GPT-4, to assist in streamlining tasks and providing efficient project management solutions.
Upwork's dedication to innovation is further evident with the launch of a new AI Services hub and AI Education Library, which are aimed at expanding freelancers' expertise in AI and improving project outcomes. This aligns with the findings from the Upwork Research Institute, revealing that a significant majority (76%) of freelancers express high confidence in mastering new AI tools.
Moreover, Upwork's third-quarter 2023 financial results underscore its robust economic health, reflecting profitable growth and strategic agility. The company continues to enhance its Enterprise Suite through partnerships with SAP Fieldglass and Flextrack, and integrations with HRIS, ATS, procurement, and recruitment platforms to provide a cohesive workforce management solution for large enterprises.
For the latest updates, innovations, and financial news about Upwork Inc., please visit upwork.com and follow their social media channels on LinkedIn, Facebook, Instagram, TikTok, and X (formerly Twitter).
Upwork has released a report titled “Remote Workers on the Move,” highlighting a significant shift in U.S. migration patterns driven by remote work acceptance. According to survey results from over 20,000 Americans, 14-23 million households plan to move, often away from major cities, with migration rates potentially increasing by three to four times the norm. The survey indicates a desire for affordable housing, with over half of respondents seeking lower-cost homes, and 54.7% moving two hours or more away from their current location. This trend may lead to enhanced economic efficiency.
The collaboration between Citrix and Upwork aims to enhance workforce agility and access to specialized talent amid ongoing market changes due to the COVID-19 pandemic. This partnership introduces the Upwork Microapps for Citrix Workspace, facilitating job postings, proposal reviews, and onboarding processes for businesses. Citrix's digital workspace solutions combined with Upwork's talent network enable companies to dynamically scale their teams in response to evolving business needs, fostering innovation and growth.
Upwork Inc. (Nasdaq: UPWK) will release its third quarter 2020 financial results on November 4, 2020, after the market closes. A Q&A conference call will follow at 2:00 PM PT (5:00 PM ET) that same day. Interested investors can access the live webcast on Upwork's Investor Relations website. An audio replay will be available for one week post-call. Upwork continues to be a leading online talent solution, facilitating flexible staffing solutions for businesses worldwide.
Upwork Inc. (Nasdaq: UPWK), the leading online talent solution by gross services volume, announced participation in two virtual investor conferences. President Hayden Brown and CFO Jeff McCombs will engage in webcast fireside chats at the Citi's 2020 Global Technology Virtual Conference on September 9, 2020, and the Jefferies Software Virtual Conference on September 14, 2020. Audiocasts will be accessible on Upwork's Investor Relations website, with archives available for 90 days following each event. The company aims to disclose key information affecting its business and financial performance during these discussions.
Upwork Inc. (Nasdaq: UPWK), the largest online talent solution by gross services volume, announced participation in upcoming virtual investor conferences. President and CEO Hayden Brown and CFO Jeff McCombs will take part in:
- Citi's 2020 Global Technology Virtual Conference on September 9, 2020, at 3:05 p.m. PT/6:05 p.m. ET
- Jefferies Software Virtual Conference on September 14, 2020, at 10:00 a.m. PT/1:00 p.m. ET
Audiocasts will be available on Upwork’s Investor Relations website. Material business developments may be disclosed during these events.
Upwork Inc. (Nasdaq: UPWK), the leading online talent solution provider, announced that CEO Hayden Brown will participate in a fireside chat at the Canaccord Genuity Global Growth Conference on August 12, 2020, at 11:00 a.m. ET. An audiocast of the chat will be available on Upwork's Investor Relations website, along with an archive post-event.
Upwork connects businesses with skilled professionals across various categories, with over 30% of Fortune 500 companies among its clients. The company's mission focuses on creating economic opportunities for a better life.
Upwork reported a strong second quarter for 2020, with revenue growing 19% year-over-year to $87.5 million, surpassing guidance. Marketplace revenue also rose by 19% to $78.5 million, while the marketplace take rate improved from 12.9% to 13.7%. However, the company faced a net loss of $11.0 million ($0.09 per share), widening from a loss of $2.5 million a year prior. Guidance for Q3 revenue is projected between $89 million and $91 million. Additionally, Jeff McCombs was appointed as the new CFO.
Upwork Inc. (Nasdaq: UPWK) has appointed Jeff McCombs as the new Chief Financial Officer, effective August 4, 2020, succeeding Brian Kinion, who will serve as an advisor until October 2020. McCombs has extensive experience, previously working as CFO for Doctor On Demand and OpenTable, and as Head of Global Business Operations at Facebook. His expertise is expected to enhance Upwork's financial and operational capabilities during a pivotal period for the company. The announcement comes alongside Upwork's second quarter 2020 financial results, which will be discussed in a conference call today.
Upwork Inc. (Nasdaq: UPWK) will release its second quarter 2020 financial results on August 4, 2020, after market close. A conference call will follow at 2:00 p.m. Pacific Time to discuss these results. The call will be accessible via a live webcast on Upwork's Investor Relations website, with an audio replay available for one week thereafter. Upwork is the leading online talent solution, serving more than 30% of the Fortune 500, including clients like Airbnb and Microsoft, and aims to create economic opportunities for independent professionals worldwide.
Upwork (Nasdaq: UPWK), the leading online talent solution, announced that President and CEO Hayden Brown and CFO Brian Kinion will participate in a fireside chat at the Stifel 2020 Virtual Cross Sector Insight Conference on June 8, 2020, at 2:40 p.m. ET. An audiocast will be available on Upwork's Investor Relations website, with an archive accessible for a year after the event. This engagement may reveal material developments affecting Upwork's business and financial performance.
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