On Deck Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ On Deck Capital Inc. (ONDK) on Tuesday reported second-quarter net income of $5.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense and to extinguish debt, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The small business lender posted revenue of $95.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $88.5 million.
On Deck Capital shares have climbed 18 percent since the beginning of the year. The stock has risen 61 percent in the last 12 months.