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Upstart ($UPST) reported disappointing Q1'24 earnings with weak guidance, expecting Q2 2024 revenue to hit $125M, below the consensus of $141M. The company sees FY revenue at $300M, significantly lower than the estimated $580.6M. Consequently, $UPST stock was halted and dropped over 17% in after-hours trading.
Upstart $UPST is down more than 17% in after hours following its earnings What does this company do? https://t.co/g0ZQLTfy60
Upstart double beat but weak guide. CEO: "we anticipate a return to sequential growth in the second half of the year and positive EBITDA by the end of the year, even in the current credit environment" $UPST:-15.7% AH https://t.co/vf5jxOG1Fz
Upstart double beat. "Macroeconomic risk to consumer credit is holding steady reflecting the pause in the recovery of key consumer trends" $UPST:-15.7% AH https://t.co/XlVcOjCbuI