LendingClub: Q4 Earnings Snapshot

January 25, 2023 GMT

SAN FRANCISCO (AP) _ LendingClub Corp. (LC) on Wednesday reported fourth-quarter net income of $23.6 million.

The San Francisco-based company said it had profit of 22 cents per share. Earnings, adjusted for non-recurring gains, were 19 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The company that connects borrowers and lenders online posted revenue of $262.7 million in the period.

For the year, the company reported profit of $289.7 million, or $2.79 per share. Revenue was reported as $1.19 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LC at https://www.zacks.com/ap/LC