Upstart shares surged 18% in premarket trading,following better-than-expected second-quarter results and raised full-year guidance.
The company reported quarterly earnings of $0.62 per share on sales of $194 million.
Analysts on Upstart were expecting sales of $158 million.
Upstart said it expects third-quarter sales between $205 million and $215 million. Analysts expected third-quarter sales around $161.6 million.
The company also raised its fiscal year guidance. Upstart had previously expected yearly sales around $600 million; the company now expects sales over $750 million. Analysts consensus estimate for the company's FY21 sales was $601 million.
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