SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Upwork Inc. (UPWK) on Wednesday reported a loss of $16.5 million in its fourth quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 13 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The online freelance marketplace operator posted revenue of $161.4 million in the period.
For the year, the company reported a loss of $89.9 million, or 69 cents per share. Revenue was reported as $618.3 million.
For the current quarter ending in March, Upwork expects its results to range from a loss of 6 cents per share to a loss of 3 cents per share.
The company said it expects revenue in the range of $157 million to $160 million for the fiscal first quarter.
Upwork expects full-year earnings in the range of 11 cents to 15 cents per share, with revenue ranging from $690 million to $705 million.
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