Upstart Holdings, Inc. reported impressive results for the fourth quarter of 2024, surpassing Wall Street’s expectations on both the top and bottom lines. The fintech company generated revenue of $152 million, significant growth year-over-year, and achieved a net income of $17 million. Upstart’s earnings per share came in at $0.45, blowing past analysts’ predictions of $0.29. The company’s robust performance was driven by an increase in loan origination volume, which reached approximately $2.2 billion during the quarter, marking a substantial rise from the previous year’s $1.5 billion. Upstart CEO Dave Girouard stated, ‘We are pleased to report our financial results, demonstrating our commitment to transforming the lending industry.’ With forward-looking guidance, Upstart anticipates further growth, projecting revenues of approximately $170 million for the upcoming first quarter of 2025. Following these announcements, Upstart shares surged by over 15% in after-hours trading, reflecting strong investor confidence. The company’s strategic plans include expanding its partnerships and enhancing its AI-driven lending platform to optimize user experience and operational efficiency.
Upstart Surpasses Q4 Expectations with Strong Guidance and Double Beat Results
