11:31 AM EDT, 05/06/2025 (MT Newswires) -- (Updates with stock price movement in the headline and the first paragraph)

Upwork ( UPWK ) shares rose by more than 21% in recent Tuesday trading after the company reported Q1 earnings and revenue that topped estimates.

The company late Monday reported Q1 non-GAAP earnings of $0.34 per diluted share, up from $0.22 a year earlier.

Analysts polled by FactSet expected $0.27.

Revenue for the quarter that ended March 31 was $192.7 million, up from $190.9 million a year earlier.

Analysts surveyed by FactSet expected $188.5 million.

The company expects Q2 adjusted EPS of $0.26 to $0.28 on revenue of $184 million to $189 million. Analysts surveyed by FactSet expect $0.27 and $187.6 million, respectively.

For 2025, the company now expects full-year 2025 non-GAAP EPS of $1.14 to $1.18, compared with the previous outlook of $1.05 to $1.10. Revenue for the year is still projected to be $740 million to $760 million. Analysts surveyed by FactSet expect adjusted EPS of $1.14 on revenue of $754.9 million.

Price: 16.14, Change: +2.82, Percent Change: +21.17