On Deck Capital (ONDK) Tops Q3 EPS by 5c, Revenues Beat; Raises FY18 Revenue Guidance Above Consensus

On Deck Capital (NYSE: ONDK) reported Q3 EPS of $0.17, $0.05 better than the analyst estimate of $0.12. Revenue for the quarter came in at $103 million versus the consensus estimate of $97.33 million.

"We are pleased to report excellent third quarter results highlighted by record origination volume, improved margins and stable credit quality, all of which culminated in record profitability," said Noah Breslow, chief executive officer, OnDeck. "We continued to improve our funding profile and advanced our strategic initiatives including our recent launch of ODX, our platform-as-a-service business, and announcement of PNC as ODX's second major bank client. We surpassed $10 billion of cumulative originations, we are on track to announce our next lending product before year-end, we are investing in the future and business momentum is strong."

GUIDANCE:

On Deck Capital sees FY2018 revenue of $392-396 million, versus the consensus of $384.26 million.

For earnings history and earnings-related data on On Deck Capital (ONDK) click here.

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