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What's Going On With Upstart Stock After Earnings?
Upstart Holdings, Inc. (NASDAQ:UPST) shares are racing higher Wednesday after the company reported strong second-quarter financial results Tuesday.
The Details:
Upstart's second-quarter results beat analysts' expectations on both the top and bottom lines. The company issued strong third-quarter guidance for revenue of approximately $150 million, well-above the $124.5 million consensus estimate.
"The guidance we released today demonstrates that we're on track toward resuming our role as the fintech known for high growth and healthy margins," said Dave Girouard, CEO of Upstart. "The improvements in our business are coming from significant advances in our AI model, a revitalized funding supply, and increased operating efficiency. These wins and more are providing the foundation for the Upstart comeback story."
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