UPST Stock Rockets on AI Lending Growth – What’s Next?
Upstart reported Q3 revenue of $277 million, up 71% year-over-year, and GAAP net income of $31.8 million after a loss last year. Loan originations reached $2.9 billion on 428,056 loans. Management guided Q4 revenue to $288 million and expects a modest GAAP profit. UPST closed at $46.20 on Nov. 4, down from the previous close of $47.50.