LendingClub Q3 record revenue $246.2M, net income $27.2M; raises FY2021 outlook

LendingClub Corp

Record revenue $246.2M (+20% sequential); net income $27.2M (+190% sequential).
GAAP EPS $0.26 but impacted by $51.5M in notable items (CECL provisioning $34M, revenue deferrals $17.5M).
Loan originations $3.11B (+14% sequential); deposits up 12% to $2.8B.
Full year 2021 guidance raised: revenue $796M-$806M, net income $9M-$14M.
Q4 2021 guidance: loan originations $2.8B-$3.0B, revenue $240M-$250M.

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