LendingClub Q2 2023 net income $10.1M (EPS $0.09), revenue $232.5M, down QoQ

LendingClub Corp

2023-Q2 EPS reported $0.22

Net income $10.1M, diluted EPS $0.09, vs $13.7M ($0.13) prior quarter and $46.8M ($0.45) excluding tax benefit YoY.
Total net revenue $232.5M, down from $245.7M QoQ and $330.1M YoY.
Loan originations $2.0B vs $2.3B prior quarter; marketplace revenue $82.8M vs $95.6M.
Deposits $6.8B; consolidated Tier 1 leverage ratio 12.4%; book value per share $11.09.
Efficiency ratio 65.0% vs 64.0% prior quarter; provision for credit losses $66.6M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LendingClub Corp reported the second quarter ended June 30, 2023 results: revenue $232.5 million, net income $10.1 million, EPS $0.09.

Period: the second quarter ended June 30, 2023
Revenue: $232.5 million
Net income: $10.1 million
EPS: $0.09
Result: reported results

Exact text from the filing

• Loan originations of $2.0 billion compared to $2.3 billion in the prior quarter with sold loan volume up modestly, offset by reduced loan retention. • Total net revenue of $232.5 million compared to $245.7 million in the prior quarter, driven by lower marketplace revenue. ◦ Net interest income of $146.7 million remained flat from the prior quarter as higher

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Source: SEC EDGAR

accession 0001409970-23-000048

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