In This Article:
Upwork (NASDAQ:UPWK) Full Year 2024 Results
Key Financial Results
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Revenue: US$769.3m (up 12% from FY 2023).
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Net income: US$215.6m (up 360% from FY 2023).
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Profit margin: 28% (up from 6.8% in FY 2023). The increase in margin was primarily driven by lower expenses.
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EPS: US$1.61 (up from US$0.35 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Upwork Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 139%.
In the last 12 months, the only revenue segment was Staffing & Outsourcing Services contributing US$769.3m. The largest operating expense was Research & Development (R&D) costs, amounting to US$209.3m (39% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$150.4m. Explore how UPWK's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Professional Services industry in the US.
Performance of the American Professional Services industry.
The company's shares are up 5.0% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Upwork has 2 warning signs we think you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.