๐ Upwork $UPWK craters 20% โ AI eating its lunch even as Q2 revenue beats estimates
Upwork dropped ~20% Tuesday after Q2 revenue of $191.7M technically beat estimates โ but full-year guidance was slashed to $730-750M as AI automation accelerates client churn and weaker Google search referrals hit new-user acquisition. Management flagged AI transition headwinds as the core challenge going forward; Q3 revenue guidance of $176-184M came in light. Not financial advice. If AI can do the freelance work, does the platform survive long-term?
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