Upstart (NASDAQ:UPST) stock is on the rise Wednesday after the lending company released its earnings report for the fourth quarter of 2021.
Let’s jump into that earnings report below to see why holders of UPST stock are celebrating today!
- The Q4 earnings report starts off with diluted adjusted earnings per share of 89 cents.
- That’s a massive jump from the adjusted EPS of 7 cents reported during the same time last year.
- It also easily beats out Wall Street’s estimate of 51 cents per share for the period.
- Another highlight for UPST stock comes from the company’s revenue of $305 million in Q4.
- That represents a 252% revenue gain year-over-year.
- It also handily surpasses the $287.39 million that analysts were expecting during the quarter.
- A strong outlook is also lifting UPST stock higher today.
- That includes revenue guidance ranging from $295 million to $305 million for Q1 2022.
- This would come in above Wall Street’s estimate of $258.3 million for the period.
- Revenue guidance for the full year of 2022 is expected to be around $1.4 billion.
- Yet again, that stacks up well next to analysts’ revenue estimate of $1.21 for the current year.
- Upstart also announced a share repurchase program alongside its Q4 2021 earnings report.
- The company’s Board of Directors has approved the repurchase of $400 million shares of UPST stock.
- All this positive news has UPST stock seeing heavy trading today.
- As of this writing, more than 16 million shares of the company’s stock have changed hands.
- That’s already a major jump from the company’s daily average trading volume of about 6.3 million shares.
UPST stock is up 34.9% as of Wednesday morning.
Investors seeking more stock market news for today will want to stick around!
We’ve got all the hottest stock coverage that traders need to know about for Wednesday! Among that is what’s hitting Shopify (NYSE:SHOP) stock, why Digital World Acquisition (NASDAQ:DWAC) stock is jumping, as well as this morning’s biggest pre-market stock movers! You can read all about these matters at the links below!
More Stock Market News for Wednesday
- SHOP Stock Alert: The Warning That Has Shopify Shares Stumbling Today
- DWAC Stock Alert: The Truth Social News Lifting Digital World Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
