LendingClub (LC) experienced a significant after-hours plunge of 17.94% on Tuesday, following the release of its fourth-quarter earnings report.
The fintech company reported Q4 earnings per share of $0.08, missing analysts' consensus estimate of $0.09 by 11.11%. However, LendingClub's quarterly sales of $217.20 million beat expectations of $206.43 million by 5.22%, representing a 17.02% increase from the same period last year.
Despite the better-than-expected revenue performance, LendingClub's failure to meet earnings per share projections appears to have triggered a sharp sell-off in the stock's after-hours trading session. Missing earnings estimates can often lead to a negative market reaction, as it raises concerns about a company's profitability and future growth prospects.
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