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Upstart Holdings Stock Soars as AI Lending Platform Posts Surprise Profit
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Key Points
- Upstart Holdings reported stocks soaring in unexpected fourth-quarter adjusted profits.
- As both transaction loan revenue and quantity jumped, revenue also exceeded estimates.
- The current quarterly outlook for the AI lending platform is better than expected.
Stocks held by upstarts (Shangzhou) On Wednesday, it soared 30% on Wednesday Artificial Intelligence (AI) The loan market has released surprisingly adjusted profits and provides strong guidance as transactions soar.
Upstart reports adjustments for the fourth quarter Earnings per share (EPS) $0.26, while analysts surveyed by Visible Alpha had adjusted losses of $0.03 per share. Revenue rose 56% year-on-year to $219 million, also higher than forecasts.
Transaction revenue reached 68% to $2.11 billion, and loans surged 89% to 245,663.
In the fourth quarter, Upstart’s “business grew significantly across all product categories,” said Dave Girouard, co-founder and CEO. Girouard added that Upstart has “unparalleled energy and optimism for the future of upstart AI loans and the future of our mission together.”
The company sees the current quarter GAAP Net loss was about $20 million and revenue was about $200 million. The visible Alpha is estimated at $31.3 million and revenue is $180.5 million.
Upstart Holdings stock has traded at its highest level since April 2022.
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