Upwork Shares Surge After Strong Q3 Earnings

Upwork (UPWK) surged 20% on Wednesday after reporting third-quarter results that topped Wall Street forecasts, signaling sustained strength in the freelance economy.

Key Financial Highlights

Adjusted EPS: $0.36 vs. $0.29 expected (FactSet)
Revenue: $201.7 million vs. $193.3 million expected
Upwork continued to benefit from growing enterprise adoption and higher client spend on digital projects.

What’s Driving Growth

The company highlighted:

Increased platform engagement across professional categories
Expansion of Upwork Enterprise services
Strong freelancer retention amid rising remote work demand

Market Reaction

Investors cheered the performance, sending shares up 20% in early trading. Analysts said the results reinforce Upwork’s position as a leading player in the gig and freelance economy, even as broader tech markets remain volatile.

Outlook

Upwork’s management signaled confidence heading into 2026, focusing on AI-powered talent matching and continued margin expansion.