2,756
edits
Upwork:Quarterly Results/2023 Q3: Difference between revisions
Upwork:Quarterly Results/2023 Q3 (view source)
Revision as of 10:40, 19 January 2024
, 19 January 2024no edit summary
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
Return to: [https://investors.upwork.com/static-files/e7a891f7-011d-44a9-b5e0-817069a0f814 2023 Q3 Shareholder Letter | Return to: [https://investors.upwork.com/static-files/e7a891f7-011d-44a9-b5e0-817069a0f814 2023 Q3 Shareholder Letter] | [[Upwork:Quarterly Results]] | [[Upwork:Quarterly Results/2023 Q2]] | [[Earnings Season:2023 Q3]] | ||
See also: [[Upwork: Main Insights from Jobs Posted in Upwork Platform]] | [[Upwork: Product Developments]] | [[Upwork: Conferences]] | See also: [[Upwork: Main Insights from Jobs Posted in Upwork Platform]] | [[Upwork: Product Developments]] | [[Upwork: Conferences]] | ||
| Line 13: | Line 13: | ||
* The company said it will repurchase outstanding common shares of up to $100 million. | * The company said it will repurchase outstanding common shares of up to $100 million. | ||
== Earnings call | == Earnings call == | ||
''See also:'' [https://www.mindmeister.com/app/map/3030169035?t=E5LavQCuMU Full Q3 2023 Earnings Call Notes Mindmap] | |||
'''Main Insights''' | |||
* CFO Erica Gessert said they haven’t seen any material improvement in macro environment in Q3, and macro trends continue to be uneven and difficult to predict, sometimes changing month over month though hours per contract are up slightly Q/Q and up 10% year-over two-year trends. | * CFO Erica Gessert said they haven’t seen any material improvement in macro environment in Q3, and macro trends continue to be uneven and difficult to predict, sometimes changing month over month though hours per contract are up slightly Q/Q and up 10% year-over two-year trends. | ||
* They expect EBITDA margin to fall to 15% in Q4 from 18% in Q3 due to reduction in long-term investments in favour of short-term projects such as AI in Q4. | * They expect EBITDA margin to fall to 15% in Q4 from 18% in Q3 due to reduction in long-term investments in favour of short-term projects such as AI in Q4. | ||