Upstart reports Q2 adjusted EPS 36c, consensus 25c

Reports Q2 revenue $257.3M, consensus $225.4M. Reports transaction volume of 372,599 loans originated, up 159% year-over-year. The company said, “A year ago, you saw the first signs that Upstart (UPST) was returning to growth mode – and today you can see it in full bloom. In addition to achieving triple-digit revenue growth, we reached GAAP profitability a quarter sooner than expected and our newer businesses actually accelerated off their amazing growth in the first quarter.”