LendingClub Surpasses Wall Street Estimates with $9.7 Million in Q4 Net Income
San Francisco, CA - LendingClub Corp. (LC) announced its fourth-quarter financial results on Tuesday, reporting a net income of $9.7 million.
Key Highlights:
* Earnings per share: $0.08
* Adjusted earnings per share (excluding asset impairment costs): $0.11
* Revenue: $217.2 million
These results exceeded analysts' expectations, with the average estimate for earnings per share at $0.10 and revenue at $207.5 million.
LendingClub's solid performance was driven by its ability to connect borrowers and lenders online. The company's focus on innovation and customer satisfaction continues to drive growth.