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LendingClub stock falls after company misses Q4 expectations

Claudia Assis

Shares of LendingClub Corp. fell more than 8% in the extended session Tuesday after the peer-to-peer lending company missed revenue expectations and posted an adjusted loss in the fourth quarter. LendingClub said it lost $13.5 million, or 3 cents a share, in the quarter, compared with a loss of $92 million, or 22 cents a share, in the fourth quarter of 2017. Adjusted for one-time items, LendingClub lost $4.1 million, or 1 cent a share, in the period, compared with an adjusted loss of 3 cents a share a year ago. Revenue rose to $181.5 million, compared with $156.4 million a year ago. Analysts were looking for an adjusted profit of 2 cents a share on sales of $182.1 million. LendingClub shares ended the regular trading day up 1.4%.