Upwork's Q3 2020 financial results showed significant growth, with revenue increasing by 24% year-over-year to $96.7 million. The marketplace revenue also grew by 26% year-over-year, and the marketplace take rate improved to 13.6%.
Gross Services Volume (GSV) increased by 23% year-over-year to $654.5 million.
Revenue grew 24% year-over-year to $96.7 million, exceeding guidance.
Marketplace revenue grew 26% year-over-year to $88.0 million.
Marketplace take rate was 13.6%, up from 13.3% a year ago.
For the fourth quarter of 2020, Upwork expects revenue in the range of $96 million to $98 million with weighted-average shares outstanding in the range of 122 million to 124 million.
Analyze how earnings announcements historically affect stock price performance