Upstart Sees Q3 2024 Revenue ~$150M Vs $124.5M Estimate
Portfolio Pulse from Benzinga Newsdesk
Upstart has provided its financial outlook for Q3 2024, expecting revenue of approximately $150 million, which is higher than the estimated $124.5 million. The company also anticipates a net loss of approximately $49 million and an adjusted net loss of approximately $14 million.
August 06, 2024 | 8:10 pm
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Upstart's Q3 2024 revenue projection of $150 million surpasses the estimated $124.5 million, indicating strong top-line performance. However, the company expects a net loss of $49 million and an adjusted net loss of $14 million, which may concern investors.
The higher-than-expected revenue projection is a positive indicator for Upstart's growth, likely boosting investor confidence in the short term. However, the anticipated net loss and adjusted net loss may temper enthusiasm, leading to mixed market reactions.
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