Gig economy stocks mixed in Q1, Upwork shares drop 25.6%

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

Gig economy stocks reported mixed first-quarter results, with aggregate revenues in line with analyst estimates but next-quarter guidance coming in 4.7% below consensus. Among the six companies tracked, Upwork posted revenue of $195.5 million, up 1.4% year-on-year and in line with expectations, but its next-quarter revenue guidance significantly missed estimates, sending its stock down 25.6% since the report. Lyft was the best performer, with revenue of $1.65 billion beating expectations by 1% and strong user growth of 16.9% to 28.3 million, though its shares traded sideways. DoorDash delivered the fastest revenue growth at 33.1% to $4.04 billion but fell short of analyst estimates by 2.8%, while Uber's revenue rose 14.5% to $13.2 billion, slightly missing expectations, and Angi's revenue declined 3.2% to $238.2 million, missing estimates by 1% and causing its stock to drop 31.6%.

Impact on stocks 5

Industrials± Mixed · 2 stocks
LYFT Inc
LYFT
▲ PositiveDemandrelevance

Revenue beat expectations by 1% and user growth was strong at 16.9%.

Upwork Inc
UPWK
▼ NegativeCapitalrelevance

Next-quarter revenue guidance significantly missed estimates, sending stock down 25.6%.

Communication Services▼ · 1 stocks
Consumer Discretionary▼ · 1 stocks
Robotics & Physical AI▼ · 1 stocks
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