LendingClub (LC) Reports In-Line Q1 EPS

LendingClub (NYSE: LC) reported Q1 EPS of ($0.03), in-line with the analyst estimate of ($0.03). Revenue for the quarter came in at $174.4 million versus the consensus estimate of $170.44 million.

• LendingClub's innovation, simplification program and focus on partnerships are transforming the company and enabling it to sustain strong operational and financial momentum.
• Loan originations of $2.7 billion, up 18% year-over-year with application growth of 31%.
• Net Revenue of $174.4 million, up 15% year-over-year.
• GAAP Consolidated Net Loss of $(19.9) million compared to $(31.2) million in the first quarter of 2018.
• Adjusted EBITDA of $22.6 million, up 47% year-over-year.
• Adjusted EBITDA Margin of 13.0%, up 2.9 percentage points year-over-year due to our ongoing initiatives to grow G&A and technology costs slower than revenue.
• Adjusted Net Loss of $(11.5) million compared to $(14.2) million in the first quarter of 2018.

For earnings history and earnings-related data on LendingClub (LC) click here.

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