For itsQ2 report, Upstart delivered earnings per share (EPS) of 1 cent, well below Wall Street’s estimate of 10 cents. The company also rang up $228 million in revenue, representing an 18% lift year-over-year (YOY). However, that tally missed the consensus target of $241.6 million for the period.
Making matters worse, prior to the Q2 disclosure, Upstart admitted that the company wouldfall short of the original revenue estimateof between $295 million and $305 million for the three months ended June 30. Before this guidance, covering analysts had anticipated Q2 sales of $335 million. Following the guidance, however, analysts dropped their target to $298 million.
$Upstart Holdings, Inc.(UPST)$
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