Shares of Upwork Inc. UPWK,
gained more than 18% in the expanded session on Tuesday after the freelance work platform achieved adjusted profits and sales in the fourth quarter above Wall Street’s expectations, saying it has grown the most since it became known in 2018. a share, as opposed to a loss of $ 5.5 million, or 5 cents per share, in the fourth quarter of 2019. Adjusted for one-time items, Upwork earned $ 7.8 million, or 6 cents per share, compared to $ 3.4 million, or 3 cents a share, a year ago. Revenue rose 32% to $ 106.2 million, the company said. Analysts surveyed by FactSet expected adjusted earnings of 1 cent per share on sales of $ 97.3 million. Last year ‘was a watershed year for Upwork. In the fourth quarter, we have achieved our biggest year-on-year growth since its release, ‘said CEO Hayden Brown in a statement. Shares of Upwork ended the normal trading day with 0.3%.
