00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Upwork reported second quarter results that beat analyst estimates but disappointed investors,
00:07according to Benzinga. The company reported second quarter earnings of $0.41 per share,
00:12beating the $0.34 analyst estimate, while revenue of $191.66 million topped expectations of $189.96
00:20million. Revenue fell from $194.94 million a year earlier. Gross services volume declined
00:264% year-over-year to $966.4 million, while active clients totaled $763,000. GSV per active client
00:35rose 5% to $5,230. CEO Hayden Brown said lower-complexity work continues to shift toward
00:42automation. Demand is growing for high-value AI talent, more complex projects, and new categories
00:47of work across small and mid-sized businesses and enterprises. Upwork shares fell 20.14% to $7.85
00:54in Monday's extended trading, according to data from Benzinga Pro. For all things money, visit Benzinga.com.
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