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On Deck Capital: 1Q Earnings Snapshot

NEW YORK (AP) _ On Deck Capital Inc. (ONDK) on Thursday reported first-quarter net income of $5.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense, were 10 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The small business lender posted revenue of $110.2 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $108.3 million.

For the current quarter ending in July, On Deck Capital said it expects revenue in the range of $108 million to $112 million.

The company expects full-year revenue in the range of $435 million to $455 million.

On Deck Capital shares have declined slightly more than 4% since the beginning of the year. The stock has increased 7% in the last 12 months.


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