On August 5, Upstart Holdings, Inc. rose 8.01% in after-hours trading, trading at $32.89/share, with turnover of $4.0473 million. The stock surged following the release of Q2 results that exceeded Wall Street expectations on both revenue and business volume metrics.

Upstart Holdings, Inc. reported Q2 revenue of $364.71 million, surpassing the consensus estimate of $351.52 million, representing approximately 56% year-over-year growth. Earnings per share came in at $0.16. Notably, total loan originations for the quarter reached $4.23 billion with average daily originations of $53.9 million, underscoring continued platform scale expansion. The strong results build on a series of positive developments including a $4 billion forward-flow deal with Castlelake signed in late July, conditional regulatory approval to establish Upstart Bank, and multiple new lending partnerships with credit unions.

Upstart Holdings, Inc. operates a cloud-based artificial intelligence lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.

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