Upwork Q2 Earnings: Revenue Beat, EPS Miss, Free Cash Flow Growth, AI-Related Work Surges
Portfolio Pulse from Adam Eckert
Upwork Inc (NASDAQ:UPWK) reported its Q2 earnings with a revenue beat but an EPS miss. Revenue was $193.1 million, slightly above estimates, while EPS was 17 cents, below the expected 23 cents. The company saw significant growth in AI-related work and free cash flow. However, Q3 revenue guidance was below estimates, leading to a 7.65% drop in after-hours trading.
August 07, 2024 | 9:49 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Upwork reported Q2 revenue of $193.1M, beating estimates, but EPS missed at 17 cents. AI-related work surged, and free cash flow grew significantly. However, Q3 revenue guidance was below expectations, causing a 7.65% drop in after-hours trading.
Despite a revenue beat and strong growth in AI-related work, the EPS miss and lower-than-expected Q3 revenue guidance have negatively impacted investor sentiment, leading to a significant drop in after-hours trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100