Upwork Announces Restructuring and Strong Q3 Revenue
Company Announcements

Upwork Announces Restructuring and Strong Q3 Revenue

Upwork ( (UPWK) ) has shared an announcement.

Upwork has announced a major restructuring plan aimed at propelling its profitability, optimizing efficiency, and enhancing innovation. This strategic move involves a 21% reduction in workforce, projected to save $60 million annually. The company has reported a preliminary Q3 2024 revenue of $194 million, surpassing expectations, and continues to focus on margin expansion and strategic growth. Investors can look forward to further financial insights during the upcoming earnings call on November 6, 2024.

Learn more about UPWK stock on TipRanks’ Stock Analysis page.

Related Articles
TheFlyUpwork reports Q3 preliminary revenue $194M, consensus $182.22M
TheFlyUpwork releases collection of new products, features
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App