LendingClub (LC) Tops Q4 EPS by 1c; Approves $150M Common Stock Buyback

February 11, 2016 7:36 AM EST

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LendingClub (NYSE: LC) reported Q4 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $134.5 million versus the consensus estimate of $130.6 million.

As of December 31, 2015, cash, cash equivalents and securities available for sale totaled $921 million, with no outstanding debt.

The board of directors has approved a share repurchase program under which Lending Club may repurchase up to $150 million of the Company's common shares in open market or privately negotiated transactions in compliance with Securities and Exchange Act Rule 10b-18. This repurchase plan is valid for one year and does not obligate the Company to acquire any particular amount of common stock, and may be suspended at any time at Lending Club's discretion.

GUIDANCE:

LendingClub sees Q1 2016 revenue of $147-149 million, versus the consensus of $146.4 million.

LendingClub sees FY2016 revenue of $730-740 million, versus the consensus of $713.4 million.

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



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