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Upwork NASDAQ: UPWK said first-quarter 2026 results reflected a sharp shift in demand late in the period, as macroeconomic uncertainty and faster adoption of artificial intelligence weighed on lower-value work, while larger customer initiatives and AI-related projects continued to grow.

Upwork Inc. (UPWK) Q1 2026 Earnings Call Transcript

April was not a good month for the tech industry in terms of job losses. Last month, major firms—including Microsoft, Meta Platforms, and Snap—all announced significant workforce reductions.

Upwork (UPWK) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.34 per share a year ago.

Upwork Inc (NASDAQ:UPWK) shares are tumbling in Thursday's after-hours session after the company posted first-quarter results showing weakness on the top line.

GSV per Active Client Increased 5% Year-over-Year through AI Work Category and SMB Growth Initiatives Company Raises Full Year 2026 Adjusted EBITDA Guidance

PALO ALTO, Calif., May 05, 2026 (GLOBE NEWSWIRE) -- U pwork Inc. (NASDAQ: UPWK), the world's human and AI-powered work marketplace, today announced Upwork Updates Spring 2026, a lineup of new features and a reimagined platform experience designed to help small and medium-sized businesses (SMBs) find, hire, and work with independent talent more effectively.