Upstart Stock Rallies On Better-Than-Expected Q2 Results, Strong Q3 Guidance
Portfolio Pulse from Erica Kollmann
Upstart Holdings, Inc. (NASDAQ:UPST) reported better-than-expected Q2 results, with losses per share and revenue beating analyst estimates. The company also provided strong Q3 guidance, expecting revenue of approximately $150 million, significantly above the $124.5 million estimate. Shares of Upstart surged 17.18% in after-hours trading.
August 06, 2024 | 8:22 pm
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Upstart Holdings reported better-than-expected Q2 results, with losses per share and revenue beating analyst estimates. The company also provided strong Q3 guidance, expecting revenue of approximately $150 million, significantly above the $124.5 million estimate. Shares surged 17.18% in after-hours trading.
The better-than-expected Q2 results and strong Q3 guidance indicate positive momentum for Upstart. The significant after-hours price increase reflects investor optimism. The company's advancements in AI, funding supply, and operating efficiency further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100