Upstart Reports Weak Q3 Results, Stock Tanks After-Hours
Portfolio Pulse from Ryan Gustafson
Upstart Holdings, Inc. reported weaker than expected Q3 results, with losses of five cents per share and quarterly sales of $134.56 million, both missing analyst consensus estimates. The company also reported a 34% YoY decline in loans originated by lending partners. Following the announcement, Upstart's shares fell by 21.80% in after-hours trading.
November 07, 2023 | 10:09 pm
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Upstart's weaker than expected Q3 results and a decline in loans originated have led to a significant drop in its share price.
Upstart's Q3 results were weaker than expected, with both losses per share and quarterly sales missing analyst consensus estimates. Additionally, the company reported a 34% YoY decline in loans originated by lending partners. These factors have negatively impacted investor sentiment, leading to a significant drop in the company's share price in after-hours trading.
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