Upwork Shares Higher on 3Q Results, Raised Guidance

What happened

Upwork reported third-quarter earnings per share of 25 cents on revenue of $185.6 million. It raised 2026 adjusted earnings guidance to $1.45 to $1.47 per share and named Peter Sanborn, its chief business officer, as chief financial officer. Shares rose 13% after hours to $10.95.

Confirmed

Global impact / market context

The raised profit outlook suggests Upwork expects to keep more of each dollar of revenue, which can support the stock even as revenue guidance narrows. A new chief financial officer takes over as investors weigh whether cost control can offset slower revenue growth.

Analyst inference

Upwork is a work marketplace matching businesses with freelance talent, so its results reflect demand for flexible labor and the fees it earns from matching work. After-hours trading is thin, so the 13% move may not fully carry into the next regular session.

Analyst inference

What to watch

1. Fourth-quarter revenue is guided to $169 million to $177 million, with adjusted earnings per share of 30 to 32 cents, which means the company's forecast for profit per share excluding certain items. Confirmed
2. Watch whether Peter Sanborn, named chief financial officer, changes spending priorities or how much detail Upwork gives on costs when it reports next quarter. Proposed
3. Track gross services volume, the total value of work booked through Upwork, because it drives the fees that become revenue and shows whether client demand is holding up. Analyst inference

Evidence

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