Why Upstart Holdings Stock Stalled Today
Better-than expected quarterly fundamentals couldn't prevent Upstart Holdings' (NASDAQ: UPST) stock from slipping on Tuesday. After the company reported results from its second frame of the year, Upstart's share price declined to the point where it matched the dip of the S&P 500 index on the day, at 0.4%.
Upstart's second quarter saw the fintech earn revenue of almost $136 million, which was a somewhat dispiriting 40% drop from the same period of 2022. On a more positive note the company flipped to a non-GAAP (adjusted) profit of $5.4 million, or $0.06 per share.
That also represented a year-over-year improvement, as the second quarter adjusted net income figure was $1 million.
Source Fool.com
