LendingClub: Fourth Quarter Earnings Overview

LendingClub Announces Strong Fourth Quarter Results

LendingClub Corp., headquartered in San Francisco, revealed on Wednesday that it achieved a net profit of $41.6 million during the fourth quarter.

The company reported earnings of 35 cents per share for the quarter.

These figures surpassed analysts’ predictions, as experts surveyed by Zacks Investment Research had anticipated earnings of 34 cents per share.

LendingClub, an online platform that facilitates connections between borrowers and lenders, generated $266.5 million in revenue for the quarter, outperforming the consensus estimate of $262.3 million from Zacks analysts.

For the full year, LendingClub recorded a total profit of $135.7 million, or $1.16 per share, with annual revenue reaching $998.8 million.

The company projects its earnings for the upcoming year to fall between $1.65 and $1.80 per share.

This article was produced by Automated Insights using information from Zacks Investment Research.