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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100