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. 🔻