LendingClub: 4Q Earnings Snapshot
SAN FRANCISCO (AP) _ LendingClub Corp. (LC) on Tuesday reported a loss of $13.5 million in its fourth quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 3 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The company that connects borrowers and lenders online posted revenue of $181.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $181.8 million.
For the year, the company reported that its loss narrowed to $128.3 million, or 30 cents per share. Revenue was reported as $694.8 million.
In the final minutes of trading on Tuesday, the company’s shares hit $3.62. A year ago, they were trading at $3.95.