LendingClub (LC) Tops Q3 EPS by 20c, Revenues Beat

LendingClub (NYSE: LC) reported Q3 EPS of ($0.25), $0.20 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $74.7 million versus the consensus estimate of $56.91 million.

Commenting on the quarter, LendingClub CEO Scott Sanborn said, "While there is uncertainty about the economic outlook in the near-term, we are managing LendingClub for long term success and the actions we are taking to strengthen our business post-COVID are bearing fruit. Our loans are performing well, investor confidence is returning, we have improved cost efficiency, and have built a substantial amount of liquidity as we work towards completing the acquisition of Radius, which remains our top strategic priority."

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

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