18.02.2020 22:24:31

LendingClub stock drops as earnings show effects of bank-charter effort

LendingClub Corp. shares declined in late trading Tuesday, after the online-lending company revealed projected weaker-than-expected growth in 2020 as it seeks to become a registered bank. LendingClub revealed a proposed $185 million acquisition of online bank Radius Bancorp along with other changes in its fourth-quarter earnings Thursday afternoon as it seeks to receive a bank charter. The company reported earnings of $200,000, less than a penny a share, on net revenue of $188.5 million, up from $181.5 million a year ago. After adjusting for stock-based compensation and other expenses, the company reported earnings of 8 cents a share. Analysts on average expected adjusted earnings of 4 cents a share on sales of $199.2 million, according to FactSet. LendingClub said that it expected first-quarter net revenue of $170 million to $180 million and full-year 2020 revenue of $790 million to $820 million, short of the average analyst forecast of $198.7 million for the first quarter and $871.5 million for 2020, according to FactSet. Shares dropped as much as 15% immediately after the report was released, though declines soon eased to less than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Weiter zum vollständigen Artikel bei "Market Watch"

Eintrag hinzufügen

Aktien Top Flop

CS Group 7.90
4.47 %
Swiss Re 72.02
3.51 %
UBS Group 8.92
3.34 %
Zurich Insur Gr 336.90
2.06 %
Adecco Group 36.50
2.04 %
Swisscom 520.80
-0.38 %
Lonza Grp 393.40
-0.51 %
Roche Hldg G 316.60
-0.69 %
Sika 154.55
-1.09 %
Alcon 48.05
-2.28 %
Noch keine Entwarnung nach starken Gewinnen | BX Swiss TV

Finanzen.net News

pagehit