FX.co ★ LendingClub Corporation Bottom Line Climbs In Q3, Beats Estimates

LendingClub Corporation (LC) reported substantial growth in its third-quarter profits compared to the same period last year, surpassing market expectations.

The company achieved a net income of $14.5 million, translating to earnings of $0.13 per share. This is a notable increase from the previous year's third-quarter figures of $5.0 million or $0.05 per share.

According to analysts, based on data collected by Thomson Reuters, there was an anticipatory expectation of earnings at $0.07 per share, excluding any extraordinary items.

The company's quarterly revenue experienced a marginal increase of 0.5%, reaching $201.9 million as opposed to $200.8 million in the previous year.

A summary of LendingClub Corporation's earnings for the quarter (GAAP standards) is as follows:

- Earnings for Q3: $14.5 million, compared to $5.0 million last year.

- Earnings per Share (EPS) for Q3: $0.13, compared to $0.05 last year.

- Revenue for Q3: $201.9 million, compared to $200.8 million last year.