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Compared to Estimates, Upstart (UPST) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Upstart Holdings, Inc. (UPST) reported revenue of $127.79 million, up 24.2% over the same period last year. EPS came in at -$0.31, compared to -$0.47 in the year-ago quarter.

The reported revenue represents a surprise of +2.39% over the Zacks Consensus Estimate of $124.82 million. With the consensus EPS estimate being -$0.38, the EPS surprise was +18.42%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Upstart performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Transaction Volume: $1130.8 thousand versus $1071.04 thousand estimated by three analysts on average.

  • Revenue- Revenue from fees, net: $138.07 million compared to the $133.56 million average estimate based on six analysts. The reported number represents a change of +17.9% year over year.

  • Revenue- Total interest income, interest expense, and fair value adjustments, net: -$10.27 million versus -$8.04 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -27.7% change.

  • Revenue- Revenue from fees, net- Platform and referral fees, net: $103.86 million compared to the $98.74 million average estimate based on three analysts.

  • Revenue- Revenue from fees, net- Servicing and other fees, net: $34.21 million versus $33.70 million estimated by three analysts on average.

View all Key Company Metrics for Upstart here>>>

Shares of Upstart have returned -6.9% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research