Upstart Holdings, Inc.
(NASDAQ:UPST) shares are trading higher after the company reported better-than-expected second-quarter sales results.
Adjusted EPS of 56 cents exceeded the analyst expectations of 53 cents.
Revenue of $364.7 million increased 42% Y/Y and 18% Q/Q, surpassing estimates of $351.5 million, driven by higher loan originations and stronger fee revenue.
Fee revenue totaled $348 million, up 45% Y/Y and 26% Q/Q, including $326 million from unsecured lending and $22 million from secured products, which increased 465% Y/Y and 86% Q/Q, respectively.
