LendingClub Falls Sharply On In-Line Q4, Outlook
Lending Club Corp. (NYSE: LC) fell sharply in Tuesday's extended session after the company posted fourth-quarter results and an outlook in line with Wall Street's expectations.
The peer-to-peer online lender changed hands recently down nearly 11 percent at $23.65. The company's December public offering was at $15 a share.
On Tuesday, the San Francisco-based firm forecast first-quarter revenue of $74 million to $76 million versus Wall Street's expectation of $73.7 million.
Full-year revenue is expected at $370 million to $380 million, also in line with the consensus.
For the recent fourth quarter, the company swung to a net loss of $9 million, or $0.07 a share, from net income of $2.9 million, or break-even per share last year.
Adjusted earnings equaled $0.01 a share, while revenue grew to $69.6 million, from $33.5 million a year earlier.
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