Why Upstart Rocketed Almost 50% Today [Yahoo! Finance]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: Yahoo! Finance
Upstart reported earnings yesterday evening showing improved results, likely due to inflation and interest rate expectations coming down. However, from today's reaction, it appears the positive results and guidance were even better than contemplated by investors heading into earnings. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » In the third quarter, Upstart reported revenue of $162 million, up 20% year over year and 27% sequentially, ahead of expectations for around $152 million, with non-GAAP (adjusted) loss per share of $0.06, $0.01 below the $0.05 loss in the year-ago quarter but also ahead of expectations. Management guided for 11.1% sequential revenue growth to $180 million in the current quarter. Upstart saw a huge decline when the interest rate environment changed drastically from 2021 to 2022. Since Upstart is not a bank, it has to sell its personal and auto loans to outside investors. When short-term inter
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SOFI
Earnings
- 10/29/24 - Beat
SOFI
Sec Filings
- 11/7/24 - Form 10-Q
- 10/29/24 - Form 8-K
- 10/23/24 - Form 4
- SOFI's page on the SEC website