Upstart Holdings, Inc. reports results for the quarter ended September 30 - Earnings Summary

What happened

Upstart Holdings reported quarterly adjusted earnings of 62 cents per share, below the 63-cent analyst average but above last year's 52 cents. Revenue rose 31.4% to $364.03 million, beating the $359.87 million estimate. Reported earnings per share were 33 cents, with net income of $36.58 million.

Confirmed

Global impact / market context

Upstart's revenue beat shows loan demand held up, but adjusted profit missed analyst targets by a penny, so cost trends matter for future profit. The gap between 62-cent adjusted and 33-cent reported earnings per share means one-time items weighed on results, which can complicate how investors judge steady earnings power.

Analyst inference

The stock fell 7.3% this quarter and 51.3% this year, far weaker than the average buy rating and the $38.50 median price target, which sits 44.6% above the $21.31 close. Four analysts cut earnings estimates in the last 30 days, showing growing caution about future profit.

Analyst inference

What to watch

1. Watch whether revenue growth of 31.4% continues, since it beat the $359.87 million analyst estimate and supports Upstart's core lending business. Confirmed
2. Watch for further analyst earnings estimate cuts, after four analysts revised estimates lower in the last 30 days, which could reduce the average 63-cent quarterly expectation. Proposed
3. Watch whether the stock closes the 44.6% gap to the $38.50 median price target, which depends on Upstart converting revenue growth into steadier adjusted profit. Analyst inference

Evidence

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