-=Upwork Inc. (UPWK) reported earnings on Wed 6 Nov 19 (a/h)

Upwork beats by $0.02, beats on revs; guides Q4 revs below consensus

Reports Q3 (Sep) earnings of $0.02 per share, $0.02 better than the S&P Capital IQ Consensus of ($0.00); revenues rose 22.9% year/year to $78.8 mln vs the $77.75 mln S&P Capital IQ Consensus.

Take rate was 14.7 compared to 14.3% in 2Q19 and 14.3% in 3Q18.

Gross profit increased by 29% to $56.3 mln and gross margin was 71%, up from 68% in 3Q18.

Co issues downside guidance for Q4, sees Q4 revs of $79.0-$79.5 mln vs. $82.23 mln S&P Capital IQ Consensus. Sees adjusted EBITDA in the range of -1% to break-even of revenue.