On August 5, Upstart Holdings, Inc. rose 8.11% in regular trading, trading at $31.225/share, with turnover of $37.453 million. The rally was driven by better-than-expected Q2 earnings results released after the prior session's close.

Upstart reported Q2 revenue of $364.7 million, beating the analyst consensus estimate of approximately $351.5 million, representing 42% year-over-year growth. Adjusted EPS came in at $0.56, surpassing the $0.53 estimate by 5.66%. Adjusted EBITDA reached $76.9 million, significantly exceeding the $64.4 million market expectation. The company attributed the strong performance to continued optimization of its AI credit models, which improved differentiation between low-risk and high-risk borrowers and re-accelerated its core personal loan business.

Total loan originations for the quarter reached $4.23 billion, with average daily originations of $53.9 million, demonstrating continued platform scale expansion. Additionally, the company recently secured OCC conditional approval to establish Upstart Bank and signed a $4 billion forward-flow agreement with Castlelake, further expanding its funding capacity. Multiple analysts raised their price targets following the results.

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