Here's Why Upstart Holdings Stock Is Skyrocketing Today
Shares of Upstart Holdings (NASDAQ: UPST), a cloud-based artificial intelligence lending platform, were surging higher this morning after the company reported fourth-quarter revenue and earnings that blew past analysts' consensus estimates.
The tech stock was up by 31% at 10:19 a.m. ET.
Upstart's diluted earnings per share of $0.89 easily outpaced Wall Street's expectation of $0.51 per share. Additionally, the company's fourth-quarter sales of $304.8 million -- an increase of 252% from the year-ago quarter -- was much higher than analysts' consensus revenue estimate of $262.9 million.
Source Fool.com
