BUZZ-Upstart soars after strong annual revenue forecast
ReutersFeb 12, 2025 7:28 PM
Shares of AI-powered lending platform Upstart Holdings UPST.O jump as much as 33.6%; last up 31.1% at $88.29
UPST late Tuesday forecast FY25 revenue of about $1 billion, far above Wall Street expectations of $839.6 million, according to data compiled by LSEG
Company also expects to at least break even this year on a reported basis
Meanwhile, UPST reported Q4 adjusted profit of 26 cents/shr, compared with analysts' expectations of a loss of 4 cents/shr
Profit surged in Q4 as loan origination volumes soared 68% compared to the same period last year
Needham says the operating environment continues to improve and believes UPST's funding is robust enough to support industry-leading growth moving forward
UPST stock jumped 50.7% in 2024
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