Upstart Aced Earnings but Still Got Crushed. Time to Buy the Dip?

Investors came in to Upstart's (NASDAQ: UPST) first-quarter earnings report hoping the company would maintain its momentum from the end of last year.Its growth has accelerated thanks to a new artificial intelligence (AI) model, Model 18 or M18, that has significantly improved its conversion rate thanks to an even broader prediction set that includes approximately 1 million predictions per applicant, or six times its prior model.With those tailwinds behind it, Upstart's results in Q1 did not disappoint. Revenue jumped 67% to $213.4 million, which topped estimates at $201.3 million. Those results included 34% growth in revenue from fees to $185.5 million, and Upstart benefited from a decline in fair value adjustments on its loans, indicating better credit performance. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool