Upstart Holdings (UPST) Misses Q3 EPS by 3c, Guidance Misses

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Go back to Upstart Holdings (UPST) Misses Q3 EPS by 3c, Guidance Misses

Upstart Holdings (UPST) plunges as higher rates continue to have an impact

November 8, 2023 10:30 AM EST

Upstart Holdings (NASDAQ: UPST) plunged more than 25% Wednesday after missing top and bottom-line consensus estimates in the third quarter.

The company reported a loss per share of $0.05, $0.03 worse than the analyst estimate of a $0.02 loss per share. Revenue for the quarter came in at $135 million, down 14% YoY and below the consensus estimate of $139.76 million.

Total fee revenue was $147 million, a decrease of 18% year-over-year.

The company said lending partners originated 114,464 loans, totaling $1.2 billion across... More