Upwork Shares Higher on 3Q Results, Raised Guidance

Dow Jones06:54

Shares of Upwork were trading higher in the after-hours market, following the release of third-quarter financial results and higher guidance by the work marketplace operator.

Upwork shares rose 13% to $10.95, after the bell. The stock ended the day's regular session with a 6.2% gain, closing at $9.72.

For the third-quarter, the company reported earnings per share of 25 cents on revenue of $185.6 million. In the year-ago period, the company had EPS of 21 cents per share on revenue of $201.7 million.

Gross services volume in the third quarter was $914.1 million, while in the year-ago period it was just over $1 million.

For the fourth quarter, the company said its was expecting adjusted EPS in a range of 30 cents to 32 cents, and revenue in a range of $169 million to $177 million.

For 2026, the company narrowed its 2026 revenue guidance to a range of $742 million to $750 million, from a range of $730 million to $750 million. The company also said it was now expecting adjusted EPS for 2026 in a range of $1.45 to $1.47, up from previous guidance of a range between $1.38 and $1.43.

Upwork also said Peter Sanborn, the company's current chief business officer, has been named to serve as chief financial officer.

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