Why Upwork Stock Dropped 12.4% on Thursday
Shares of freelance marketplace Upwork (NASDAQ: UPWK) fell as much as 12.4% in trading on Thursday after reporting third-quarter 2021 financial results. Shares closed the day down 10.8%.
Revenue was up 34% in the quarter to $128 million, but the company's net loss more than tripled to $9.3 million, or $0.07 per share. Analysts were expecting a profit of $0.01 per share, so the loss didn't go over well with investors.
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Source Fool.com
