RTTNews | Feb 24, 2021 09:51AM EST

09:51 Wednesday, February 24, 2021 (RTTNews.com) - Shares of freelancer marketplace Upwork Inc. (UPWK) are rising more than 14% Wednesday morning on better-than-expected fourth-quarter earnings. The company also provided first-quarter and full-year revenue outlook, better than analysts' view.

Net income in the fourth quarter was $0.9 million, or $0.01 per share, compared to net loss of $5.5 million, or $0.05 per share, in the same quarter a year ago.

On adjusted basis, it reported earnings of $0.06 per share, while analysts polled by Thomson Reuters expected loss of $0.05 per share for the quarter.

Revenue for the quarter rose to $106.15 million from $80.29 million last year.

Looking forward to the first quarter, the company expects revenue in the range of $107 million to $109 million. The consensus estimate stands at $102.02 million.

Full-year revenues are expected in the range of $460 million to $470 million. Analysts see revenue of $436.67 million for the period.

UPWK touched a new high of $63.87 this morning, before declining to trade at $58.87 currently.

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