Upwork's Second Quarter 2023 Earnings Released

[williamtcooper]

Upwork's second quarter results were released this week.

Here are some of the high points from the call:

- Upwork had it's first profitable quarter.

- AI and Generative AI are rapidly growing on the site (10x) however from a small base.

- Total freelancer revenues of $1 Billion are slightly increasing.

- Marketing reductions, staff cuts, and job bidding revenues brought profitablity.

My takeaways:

- The number of Jobs on Upwork are steady- it's a matter of which freelancers obtain the work.

- Freelancers need to continually UpSkill to in-demand jobs or watch their work dwindle.

- Upwork is betting on increased client demand for AI services especially with it's OpenAI and Jasper deals.

What are your thoughts and how are you increasing your Job Skills to met client demands?

[c5db424b]

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