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Upwork Q2 Adjusted Earnings Rise, Revenue Declines; Shares Fall After-Hours

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Upwork (UPWK) reported Q2 non-GAAP earnings late Monday of $0.41 per diluted share, up from $0.35 a year earlier.

Analysts polled by FactSet expected $0.34.

Revenue for the quarter ended June 30 was $191.7 million, down from $194.9 million a year earlier.

Analysts expected $189.9 million.

The company expects Q3 non-GAAP EPS of $0.31 to $0.33 on revenue of $176 million to $184 million. Analysts expect $0.41 and $193.8 million, respectively.

The company now expects 2026 non-GAAP EPS of $1.38 to $1.43 on revenue of $730 million to $750 million. It previously expected non-GAAP EPS of $1.50 to $1.55 on revenue of $760 million to $790 million.

Analysts expect $1.54 and $776.0 million, respectively.

Upwork shares fell over 21% in after-hours trading.

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