Upstart Holdings, Inc. (UPST) Reports Q2 Loss, Tops Revenue Estimates

Upstart Holdings, Inc. (UPST) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.39. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 56.41%. A quarter ago, it was expected that this company would post a loss of $0.38 per share when it actually produced a loss of $0.31, delivering a surprise of 18.42%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Upstart , which belongs to the Zacks Computers - IT Services industry, posted revenues of $127.63 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.97%. This compares to year-ago revenues of $135.77 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Upstart shares have lost about 41.7% since the beginning of the year versus the S&P 500's gain of 8.7%.