Freelancing platform Upwork Inc. (UPWK) has reported better-than-expected second-quarter results on the back of growth in revenues. Following the earnings release, shares of the company declined 4.4% to close at $55 in the extended trading session. Quarterly revenues stood at $124.2 million, up 42% from the same period last year, and surpassed the Street's estimate of $120.24 million.The rise in revenues can be primarily attributed to the growth witnessed in marketplace revenues and managed services revenues of about 46% and 7.2%, respectively. Upwork reported earnings per share (EPS) of $0.03, which compares favorably to a loss of $0.03 per share last year.
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Upwork (NASDAQ:UPWK)
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