Upstart Restarts

AI lending platform Upstart has had a rough time since the “infamous TV moment” in September 2021. However, some investors believe today’s Q1 earnings report may be the beginning of a turnaround for the stock. 🤔

The company reported an adjusted loss of $0.47 per share vs. the $0.83 estimate. And revenues of $103 million beat the $99.7 million expected. However, its lending partners originated just over 84,000 loans in the period, down 78% YoY. That mostly explains why its revenue fell by two-thirds. đŸ”ģ

Where things got interesting was its forecast. Executives expect breakeven EBITDA in Q2 on $135 million in revenue. That was ahead of the $125 million and $14 million EBITDA loss that analysts were expecting. đŸ”ē

The company also said it secured multiple long-term funding agreements that it expects to deliver more than $2 billion to the platform over the next 12 months. 

It appears the market’s expectations got a bit too negative, and the company was able to beat them. Whether or not this was “the” bottom for the stock remains to be seen. But investors were optimistic after hours, sending $UPST shares up over 40%. 👍

More in   Earnings

View All

Sellers Hooked This Retailer Again

Home furnishing retailers across the spectrum have struggled in the current environment. We’ve heard from Big Lots at the low end and RH at the high end, both experiencing weakness due to inflation and housing market activity grinding to a halt. 🐌

Today sellers got their hooks into another retailer, Hooker Furnishings Corp., which reported weak second-quarter results. 

Read It

Palo Alto Networks’ Earnings Jump

As tech stocks rebounded today, Palo Alto Networks was the Nasdaq 100’s best performer. 🤩

The security software vendor reported better-than-expected fourth-quarter results on Friday after the close. Adjusted earnings per share of $1.44 topped the $1.28 expected. However, revenues of $1.95 billion were a mere $0.01 shy of analyst estimates.

Read It

Zoom Looks To Restart Growth

Shares of video communications company Zoom were floating near all-time lows ahead of today’s earnings report. A lack of growth in a competitive market and investors favoring profit-focused companies has weighed on the stock. đŸ˜ĸ

However, investors were pleasantly surprised today after it reported better-than-expected results.

Read It

Dollar General Continues Its Retreat

We last discussed Dollar General in June when a spending slump weighed on its earnings results. And unfortunately for shareholders, its share price continued its retreat today after another set of weak results. ☚ī¸

The discount retailer reported $2.13 in earnings per share on $9.796 billion in revenues. Both numbers trailed estimates of $2.47 and $9.926 billion. Same-store sales also declined 0.1% vs. expectations for a 0.9% increase. 👎

Read It