Posted 12/18/2023, 7:49:00 PM
Upwork Profits Soar as AI Freelancing Hub Expands
- Upwork is an online freelance platform seeing growth in AI work amid soft landing hopes for economy
- Upwork increased its take rate, the percentage it gets from freelancer pay, boosting revenue
- Operating expenses fell as a percentage of revenue, leading to a surge in profitability
- Upwork launched an AI services hub and training resources to become top AI talent destination
- UPWK stock cleared a buy point, rising past $15 on expanded AI resources and earnings growth