On Deck Capital: 3Q Earnings Snapshot
NEW YORK (AP) _ On Deck Capital Inc. (ONDK) on Tuesday reported third-quarter net income of $9.8 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of 12 cents per share. Earnings, adjusted for stock option expense and to extinguish debt, came to 17 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The small business lender posted revenue of $103 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $98.4 million.
On Deck Capital expects full-year revenue in the range of $392 million to $396 million.
On Deck Capital shares have risen 17 percent since the beginning of the year. The stock has risen 30 percent in the last 12 months.