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LendingClub (LC) Reports Q2 Earnings: What Key Metrics Have to Say
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LendingClub (LC - Free Report) reported $232.47 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 29.6%. EPS of $0.09 for the same period compares to $0.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $228.77 million, representing a surprise of +1.62%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how LendingClub performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Non-Interest Income- Other non-interest income: $3.04 million versus the three-analyst average estimate of $3.77 million.
Total Interest Income: $214.49 million compared to the $210.39 million average estimate based on three analysts.
Total Interest Income- Interest on retail and certificate loans held for investment at fair value: $1.19 million versus the two-analyst average estimate of $1.43 million.
Total Interest Income- Interest on loans held for investment at fair value: $21.69 million versus the two-analyst average estimate of $16.61 million.
Non-Interest Income- Marketplace revenue: $82.78 million compared to the $75.97 million average estimate based on two analysts.
Total Interest Income- Interest on securities available for sale: $5.95 million versus $4.25 million estimated by two analysts on average.
Total Interest Income- Interest on loans held for sale: $4.43 million compared to the $6.83 million average estimate based on two analysts.
Total Non-interest income: $85.82 million versus the two-analyst average estimate of $72.03 million.
Total Interest Income- Interest and fees on loans and leases held for investment: $162.09 million versus $165.69 million estimated by two analysts on average.
Total Interest Income- Other interest income: $19.13 million versus $16.39 million estimated by two analysts on average.
Net Interest Income: $146.65 million compared to the $153.68 million average estimate based on two analysts.
Shares of LendingClub have returned +4.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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LendingClub (LC) Reports Q2 Earnings: What Key Metrics Have to Say
LendingClub (LC - Free Report) reported $232.47 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 29.6%. EPS of $0.09 for the same period compares to $0.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $228.77 million, representing a surprise of +1.62%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how LendingClub performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Non-Interest Income- Other non-interest income: $3.04 million versus the three-analyst average estimate of $3.77 million.
- Total Interest Income: $214.49 million compared to the $210.39 million average estimate based on three analysts.
- Total Interest Income- Interest on retail and certificate loans held for investment at fair value: $1.19 million versus the two-analyst average estimate of $1.43 million.
- Total Interest Income- Interest on loans held for investment at fair value: $21.69 million versus the two-analyst average estimate of $16.61 million.
- Non-Interest Income- Marketplace revenue: $82.78 million compared to the $75.97 million average estimate based on two analysts.
- Total Interest Income- Interest on securities available for sale: $5.95 million versus $4.25 million estimated by two analysts on average.
- Total Interest Income- Interest on loans held for sale: $4.43 million compared to the $6.83 million average estimate based on two analysts.
- Total Non-interest income: $85.82 million versus the two-analyst average estimate of $72.03 million.
- Total Interest Income- Interest and fees on loans and leases held for investment: $162.09 million versus $165.69 million estimated by two analysts on average.
- Total Interest Income- Other interest income: $19.13 million versus $16.39 million estimated by two analysts on average.
- Net Interest Income: $146.65 million compared to the $153.68 million average estimate based on two analysts.
View all Key Company Metrics for LendingClub here>>>Shares of LendingClub have returned +4.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.