LendingClub (LC) Tops Q2 EPS by 7c

August 6, 2019 4:14 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings

Related Entities

Earnings, Definitive Agreement