US Stock Market News | Q2 earnings exceed expectations, Upstart rises nearly 36%
On Wednesday, the artificial intelligence lending platform Upstart saw its stock price surge, rising nearly 36% to $32.5 as of the time of publication. The company's second-quarter financial performance exceeded expectations, and it issued higher-than-expected revenue guidance for the third quarter on Tuesday. Upstart reported a quarterly loss per share of 17 cents, which was 56.41% higher than the 39 cents loss per share widely expected by analysts. Quarterly revenue was $128 million, surpassing the analysts' consensus of $124.54 million by 2.78%. Upstart expects third-quarter revenue in 2024 to be around $150 million, compared to the expected revenue of $124.5 million
According to the financial news app Zhitong Finance, on Wednesday, the stock price of the artificial intelligence lending platform Upstart (UPST.US) surged. As of the time of writing, the stock rose nearly 36% to $32.5. The company's second-quarter financial performance exceeded expectations, and it issued higher-than-expected revenue guidance for the third quarter on Tuesday. Upstart reported a quarterly loss per share of 17 cents, which is 56.41% higher than the analysts' consensus of a 39-cent loss. Quarterly revenue was $128 million, 2.78% higher than the analysts' consensus of $124.54 million. Upstart expects revenue of approximately $150 million for the third quarter of 2024, compared to the expected revenue of $124.5 million