AP NEWS

LendingClub: 3Q Earnings Snapshot

November 5, 2019

SAN FRANCISCO (AP) _ LendingClub Corp. (LC) on Tuesday reported a loss of $383,000 in its third quarter.

On a per-share basis, the San Francisco-based company said it had a loss of less than 1 cent. Earnings, adjusted for non-recurring costs, were 9 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The company that connects borrowers and lenders online posted revenue of $204.9 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $204.3 million.

For the current quarter ending in December, LendingClub said it expects revenue in the range of $190 million to $200 million.

The company expects full-year revenue in the range of $760 million to $770 million.

LendingClub shares have climbed slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.20, a decrease of 24% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LC at https://www.zacks.com/ap/LC