Shares of Upstart Holdings jumped 45% in the pre-market session as the artificial intelligence (AI) lending platform’s fourth-quarter earnings surpassed analysts’ expectations. The 57% rise in lending volumes was the primary driver.
Upstart Holdings’ (UPST) 4Q adjusted earnings of $0.07 per share topped the Street estimates of $0.02 per share but declined 30% on a year-over-year basis. Total revenue surged 39% to $86.7 million and surpassed the consensus estimate of $74.06 million.