Stock Alert: Upwork Jumps 45% On Quarterly Results

(RTTNews) - Shares of Upwork Inc. (UPWK) are currently gaining over 45% after the company's third-quarter results trumped Wall Street estimates.

UPWK is currently trading at $29.56, up $9.34 or 46.20%, on the Nasdaq.

Upwork's third-quarter loss was $2.7 million or $0.02 per share, narrower than last year's loss of $3.5 million or $0.03 per share last year. Excluding one-time items, adjusted profit was $5.0 million or $0.04 per share, up from $1.1 million or $0.01 per share a year ago. Revenues grew 24% year-over-year to $96.7 million.

Analysts polled by Thomson Reuters estimated a loss of $0.06 per share on revenues of $90.4 million.