Upstart Stock Sinks After Q1 Earnings: Here’s Why

Upstart Holdings Inc. (NASDAQ:UPST) reported first-quarter results after Tuesday’s closing bell, missing analyst earnings estimates.

Here’s a look at the details inside the report. 

• UPST stock is moving. Watch the price action here.

Upstart Q1 Details       

Upstart reported adjusted quarterly earnings of 30 cents per share, which missed the consensus estimate of 42 cents by 28.57%.  Adjusted EPS excludes stock-based compensation expenses of 37 cents per share.

Quarterly revenue came in at $308.21 million, which beat the Street estimate of $303.68 million, according to Benzinga Pro data. 

Upstart reported the following first-quarter highlights:

• Transaction Volume: 425,356 loans originated, up 77% year-over-year. Total originations were …

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