โ ๏ธ Upwork $UPWK craters 21% โ AI automation and Google algo changes gut 2026 guidance
Upwork beat Q2 sales but issued a gut-punch outlook: Q3 revenue guided to $180M, about 7% below analyst forecasts, with the full-year midpoint slashed $35M to $740M. Management cited AI automation eating into freelance demand and Google search algorithm changes hurting organic traffic. Needham cut its price target on the news. Not financial advice. Is AI disruption a death knell for freelance marketplaces, or is this an overreaction?
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