懒人包：
Q1 eps 0.61
下调 2022 guidance 约10%
下调Q2 guidance 约50%
盘后断头台 -45%中
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350买 250吃笋过
大空头停损永不嫌晚 切记
CFO says more conservative forecast reflects 'the general macro uncertainties
and the emerging prospects of a recession'
首席财务官说，更保守的预测反映了总体宏观不确定性和经济衰退的新前景。
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.
周一盘后交易中，Upstart Holdings Inc.的股价暴跌逾40%，此前该公司下调了全年预期
，并警告称，当前的宏观经济环境预计将拖累贷款额。
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.
该公司在贷款决策中使用人工智能，目前预计2022年的收入约为12.5亿美元。该公司此前
的预测是营收约为14亿美元。
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.
首席执行官戴夫椰N鲁亚德在UpStart(UPST)的财报电话会议上表示，消费者利率的上升意
味着“在边际上，一大羣本可以获得批准的人不再获得批准。”
"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，有一大堆贷款根本就没有发生过，还有一大批人仍然获得批准，但利率高了几个
百分点，其中一定一部分人会决定这不是他们想要的产品，”他说，特别是提到了可自由
支配购买的情况。
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，首席财务官Sanjay Datta指出，尽管违约率在大约18个月内处于“不正常的低水平
”，但由于缺乏政府刺激活动，这一趋势已经逆转。
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.
他说，拖欠动态也导致向消费者报价的利率上升，尽管UpStart在过去60天里看到拖欠趋
势企稳。
"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
.
达塔在UpStart的财报电话会议上表示：“考虑到总体宏观不确定性和今年晚些时候出现
的衰退前景，我们认为在前瞻性预期中反映出更高程度的保守主义是谨慎的。”
For the second quarter, Upstart anticipates revenue of $295 million to $305 mi
llion, while analysts had been expecting $335 million.
对于第二季度，UpStart预计收入在2.95亿美元至3.05亿美元之间，而分析师此前的预期
为3.35亿美元。
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.
这一黯淡的预测盖过了UpStart最近一个季度好于预期的业绩，收入从1.21亿美元跃升至3
.1亿美元，而分析师此前预计为3亿美元。
The company generated $314 million in fee revenue, up 170% from a year prior,
whereas the FactSet consensus was for $287 million
该公司产生了3.14亿美元的手续费收入，同比增长170%，而FactSet的共识是2.87亿美元
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还公布了第一季度净利润为3,270万美元，合每股34美分，而去年同期为1,010万
美元，合每股11美分。扣除基于股票的薪酬和其他费用后，UpStart每股盈利61美分，高
于一年前的每股22美分，也高于FactSet共识的每股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."
吉鲁亚德在财报电话会议上表示：“实际上，我们对业绩感到非常满意和满意。”虽然他
理解“2022年是经济形势复杂的一年”，但他强调，他“对公司的实力非常有信心，对我
们的未来非常乐观，就像我们一直以来的情况一样。”