earnings
confidence high
sentiment positive
materiality 0.80
LendingClub posts Q2 net income $9.4M, revenue up 93% QoQ; raises FY revenue target to $750-780M
LendingClub Corp
- Record Q2 net income of $9.4M vs. $47.1M loss prior quarter; revenue $204.4M (+93% QoQ).
- Net interest income grew 148% to $45.9M; consumer loan portfolio rose 145% to $795M.
- Loan originations $2.72B, up 84% QoQ; deposits reached $2.5B.
- Raised full-year guidance: originations $9.8-10.2B, revenue $750-780M, net loss ($13)-($3)M.
- FTC settlement for $18M consumer remediation (already accrued); no impact on quarter.