Upwork Posts Q2 EPS of 20c, Topping Expectations
UPWK is trading near its 52-week low of $7.44 (6.5% above the low) on elevated volume (1.8× avg).
Summary
Upwork reported Q2 earnings per share of 20 cents, a positive surprise that signals improving profitability despite a 2% year-over-year revenue decline to $191.7 million. Net income fell 22% on a lower client and gross services volume base. The company issued soft Q3 revenue guidance of $176–$184 million, below the previously expected $190–$195 million, while Q3 adjusted EPS is seen at 31–33 cents. For full-year 2026, Upwork projects revenue of $730–$750 million and adjusted EPS of $1.38–$1.43. The results come amid strategic shifts including a 24% workforce reduction, a new $150 million credit facility, and CFO medical leave.
At the time of this announcement, UPWK was trading at $7.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $7.44 to $22.84. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.