Why Shares of Upstart Are Surging This Week
Shares of the artificial intelligence (AI) lender Upstart (NASDAQ: UPST) had surged nearly 40% this week as of market close Thursday after the company reported superb earnings results for the fourth quarter of 2021.
Upstart reported adjusted earnings per share of $0.89 on total revenue of $305 million, easily beating analyst estimates. The company originated nearly $4.1 billion of loans in the quarter, a nearly $1 billion increase from the prior quarter. In tandem with earnings, Upstart also announced a $400 million share repurchase program.
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Source Fool.com
