LendingClub Corp. (NYSE:LC) reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the key details from the report.
The Details: LendingClub reported quarterly earnings of 8 cents per share, which missed the analyst consensus estimate of 9 cents. Quarterly revenue came in at $217.2 million, which beat the analyst consensus estimate of $206.43 million and is an increase over sales of $185.61 million from the same period last year.
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Loan originations increased 13% to $1.85 billion, compared to $1.63 billion in the prior year, driven by the execution of new consumer loan initiatives combined with strong marketplace investor demand, the company said.
“We executed well in 2024, exiting the year with growth in originations, continued credit outperformance, successful new products and experiences, and more than five million members,” said Scott Sanborn, LendingClub CEO.
“From this strong foundation, we are well-positioned to accelerate as we move through 2025 and further grow originations, revenue, and return on equity while continuing to innovate for our members,” Sanborn added.
Outlook: LendingClub expects first-quarter loan originations of between $1.8 billion and $1.9 billion and pre-provision net revenue (PPNR) in a range of $60 million to $70 million.
LC Price Action: According to data from Benzinga Pro, LendingClub shares are down 18.30% after hours at $13.75 Tuesday at publication.
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