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Q1 eps 0.61
下調 2022 guidance 約10%
下調Q2 guidance 約50%
盤後斷頭台 -45%中
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大空頭停損永不嫌晚 切記
CFO says more conservative forecast reflects 'the general macro uncertainties
and the emerging prospects of a recession'
首席財務官説，更保守的預測反映了總體宏觀不確定性和經濟衰退的新前景。
Shares of Upstart Holdings Inc. plunged more than 40% in after-hours trading M
onday after the company cut its forecast for the full year, warning that the c
urrent macroeconomic climate is expected to weigh on loan volume.
週一盤後交易中，Upstart Holdings Inc.的股價暴跌逾40%，此前該公司下調了全年預期
，並警告稱，當前的宏觀經濟環境預計將拖累貸款額。
The company, which uses artificial intelligence in lending decisions, now expe
cts 2022 revenue of roughly $1.25 billion. Its prior forecast was for about $1
.4 billion in revenue.
該公司在貸款決策中使用人工智能，目前預計2022年的收入約為12.5億美元。該公司此前
的預測是營收約為14億美元。
The rise in consumer interest rates means that "on the margin, a whole bunch o
f people that would have been approved are no longer approved," Chief Executiv
e Dave Girouard said on Upstart's (UPST) earnings call.
首席執行官戴夫椰N魯亞德在UpStart(UPST)的財報電話會議上表示，消費者利率的上升意
味着“在邊際上，一大羣本可以獲得批准的人不再獲得批准。”
"So there's a whole bunch of loans that just never happened at all, and there'
s a bunch of people that are still approved, but the interest rate is a few pe
rcentage points higher, and a certain fraction of them are going to decide tha
t's not the product that they want," he said, especially citing the case of di
scretionary purchases.
“因此，有一大堆貸款根本就沒有發生過，還有一大批人仍然獲得批准，但利率高了幾個
百分點，其中一定一部分人會決定這不是他們想要的產品，”他説，特別是提到了可自由
支配購買的情況。
Additionally, Chief Financial Officer Sanjay Datta noted that while delinquenc
ies were "unnaturally low" for about 18 months, the trend has reversed given t
he absence of government stimulus activity.
此外，首席財務官Sanjay Datta指出，儘管違約率在大約18個月內處於“不正常的低水平
”，但由於缺乏政府刺激活動，這一趨勢已經逆轉。
Delinquency dynamics also contribute to higher interest rates quoted to consum
ers, he said, though Upstart has seen a stabilization in delinquency trends ov
er the past 60 days.
他説，拖欠動態也導致向消費者報價的利率上升，儘管UpStart在過去60天裏看到拖欠趨
勢企穩。
"Given the general macro uncertainties and the emerging prospects of a recessi
on later this year, we have deemed it prudent to reflect a higher degree of co
nservatism in our forward expectations," Datta said on Upstart's earnings call
.
達塔在UpStart的財報電話會議上表示：“考慮到總體宏觀不確定性和今年晚些時候出現
的衰退前景，我們認為在前瞻性預期中反映出更高程度的保守主義是謹慎的。”
For the second quarter, Upstart anticipates revenue of $295 million to $305 mi
llion, while analysts had been expecting $335 million.
對於第二季度，UpStart預計收入在2.95億美元至3.05億美元之間，而分析師此前的預期
為3.35億美元。
The bleaker forecast overshadowed better-than-expected results for Upstart's m
ost recent quarter, as revenue jumped to $310 million from $121 million, while
analysts had been expecting $300 million.
這一黯淡的預測蓋過了UpStart最近一個季度好於預期的業績，收入從1.21億美元躍升至3
.1億美元，而分析師此前預計為3億美元。
The company generated $314 million in fee revenue, up 170% from a year prior,
whereas the FactSet consensus was for $287 million
該公司產生了3.14億美元的手續費收入，同比增長170%，而FactSet的共識是2.87億美元
Upstart also reported first-quarter net income of $32.7 million, or 34 cents a
share, compared with $10.1 million, or 11 cents a share, in the year-earlier
period. After adjusting for stock-based compensation and other expenses, Upsta
rt earned 61 cents a share, up from 22 cents a share a year prior and ahead of
the FactSet consensus, which was for 53 cents a share.
UpStart還公佈了第一季度淨利潤為3,270萬美元，合每股34美分，而去年同期為1,010萬
美元，合每股11美分。扣除基於股票的薪酬和其他費用後，UpStart每股盈利61美分，高
於一年前的每股22美分，也高於FactSet共識的每股53美分。
"We are actually quite pleased and quite happy with the results," Girouard sai
d on the earnings call. While he appreciates "that 2022 is a complicated year
in the economy," he emphasized that he's "exceptionally confident in the stren
gth of the business and is optimistic about our future, as we have been."
吉魯亞德在財報電話會議上表示：“實際上，我們對業績感到非常滿意和滿意。”雖然他
理解“2022年是經濟形勢複雜的一年”，但他強調，他“對公司的實力非常有信心，對我
們的未來非常樂觀，就像我們一直以來的情況一樣。”