LendingClub (LC) Tops Q2 EPS by 7c
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LendingClub (NYSE: LC) reported Q2 EPS of ($0.01), $0.07 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $190.8 million versus the consensus estimate of $192.98 million.
- LendingClub's innovation, simplification program and focus on partnerships are transforming the company and enabling it to sustain robust operational and financial momentum.
- Record loan originations of $3.1 billion, up 11% year-over-year.
- Record Net Revenue of $190.8 million, up 8% year-over-year.
- GAAP Consolidated Net Loss of $(10.6) million compared to $(60.9) million in the second quarter of 2018.
- Record Adjusted EBITDA of $33.2 million, up 29% year-over-year.
- Adjusted EBITDA Margin of 17.4%, up 2.9 percentage points year-over-year driven by record Contribution Margin which benefited from improving customer acquisition and origination and servicing cost efficiency.
- Adjusted Net Loss of $(1.2) million compared to $(6.7) million in the second quarter of 2018.
For earnings history and earnings-related data on LendingClub (LC) click here.
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