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Why Upwork Stock Is Skyrocketing Today

TheMotleyFool

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Upwork (NASDAQ: UPWK) stock is soaring in Wednesday's trading following the publication of preliminary third-quarter results. The gig-economy specialist's share price was up 22.6% as of 11 a.m. ET.

Upwork published preliminary Q3 results before the market opened this morning, reporting performance that came in ahead of the market's expectations. In addition to the better-than-anticipated quarterly numbers, the company also announced that it would be trimming its workforce.

Upwork is scheduled to report its official third-quarter results after the market closes on Nov. 6, but the gig-labor specialist has chosen to give investors an early look into performance for the period.

Source Fool.com

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