On Deck Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ On Deck Capital Inc. (ONDK) on Monday reported second-quarter earnings of $4.3 million.
The New York-based company said it had profit of 5 cents per share. Earnings, adjusted for stock option expense, were 9 cents per share.
The results missed 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 $110.2 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $110.7 million.
For the current quarter ending in October, On Deck Capital said it expects revenue in the range of $108 million to $112 million.
The company expects full-year revenue in the range of $438 million to $448 million.
The company’s shares closed at $3.95. A year ago, they were trading at $6.91.