Upstart Q4 Earnings: Revenue Beat, EPS Beat, Weak Guidance And More
Portfolio Pulse from Adam Eckert
Upstart Holdings Inc (NASDAQ:UPST) reported Q4 financial results with a revenue of $140.91 million, surpassing estimates of $134.89 million, and a loss of 11 cents per share, beating the expected 14 cents per share loss. However, the company provided weak Q1 guidance with expected revenue of $125 million against estimates of $151.2 million and anticipates a $25 million adjusted EBITDA loss. Following the announcement, UPST shares dropped 18% to $27.
February 13, 2024 | 9:43 pm
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Upstart reported better than expected Q4 earnings but provided weak Q1 guidance, leading to an 18% drop in share price to $27.
The immediate negative reaction in Upstart's stock price following the earnings announcement and weak Q1 guidance indicates a short-term bearish outlook. Investors reacted negatively to the lower than expected revenue forecast and anticipated EBITDA loss, overshadowing the Q4 earnings beat.
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