Lending Club (NYSE:LC) reported its figures for its fourth quarter of the fiscal 2018, which included revenue that was better than during the year-ago period, but shares were moving downwards late in the day.
The Silicon Valley peer-to-peer lender said that it had a loss of $13.5 million, or 3 cents per share for the period, below its loss from the year-ago quarter of $92 million, or 22 cents per share. On an adjusted basis, this came in to a loss of roughly a penny per share, better than its loss of 3 cents per share from the year-ago quarter.
Lending Club added that it brought in net sales of $181.5 million for the period, marking a 16% surge when compared to the same period a year ago, thanks in part to an increase in loan origination volume. This metric tallied up to $2.9 billion, gaining about 18% year-over-year.
For its fiscal 2019, the platform sees its net revenue as being in the range of $765 million to $795 million, while it predicts a net loss to be be from $29 million to $9 million. On an adjusted basis, Lending Club’s EBITDA is slated to be between $115 million and $135 million.
LC stock was down roughly 5.8% after the bell following the company’s quarterly results. Shares had been gaining about 1.4% during regular trading hours as the company geared up to report its figures as it moves deeper into its first quarter of fiscal 2019.
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