RTTNews | Oct 28, 2021 11:20AM EDT

11:20 Thursday, October 28, 2021 (RTTNews.com) - Shares of freelancing platform Upwork Inc. (UPWK) are sliding 7 percent on Thursday's trading as the company reported wider loss in the third quarter and missed the Street view for a profit.

During the three-month period, the company posted net loss of $9.3 million or $0.07 per basic share, higher than net loss of $2.7 million or $0.02 per basic share in the same period last year. On average, 4 analysts polled by Thomson Reuters expected the company to post net income of $0.01 per share in the quarter.

Excluding items, income was $4.8 million in the third quarter, compared to $5.0 million in the year-ago period.

Quarterly revenues climbed 32 percent to $128.1 million from $97 million in the previous-year period.

Currently at $51.45, the stock has traded between $18.24 and $64.49 during the past 52 weeks.

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