LendingClub (LC) Reports Q3 Earnings: What Key Metrics Have to Say
LendingClub (LC) reported $200.85 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 34.1%. EPS of $0.05 for the same period compares to $0.36 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $199.66 million, representing a surprise of +0.59%. The company delivered an EPS surprise of +25.00%, with the consensus EPS estimate being $0.04.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how LendingClub performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Non-Interest Income- Other non-interest income: $2.96 million versus the five-analyst average estimate of $4.24 million.
Non-Interest Income- Marketplace revenue: $60.89 million versus the five-analyst average estimate of $57.46 million.
Net Interest Income: $137.01 million compared to the $142.16 million average estimate based on four analysts.
Total Non-interest income: $63.84 million versus the four-analyst average estimate of $58.42 million.
Total Interest Income: $207.41 million versus the four-analyst average estimate of $206.78 million.
Total Interest Income- Other interest income: $16.80 million versus $15.89 million estimated by two analysts on average.
Total Interest Income- Interest on loans held for sale: $9.58 million versus $5.64 million estimated by two analysts on average.
Total Interest Income- Interest on securities available for sale: $9.47 million versus the two-analyst average estimate of $7.80 million.
Total Interest Income- Interest and fees on loans and leases held for investment: $142.12 million versus $162.88 million estimated by two analysts on average.
Total Interest Income- Interest on loans held for investment at fair value: $11.79 million versus the two-analyst average estimate of $20.47 million.
Total Interest Income- Interest on retail and certificate loans held for investment at fair value: $0.82 million compared to the $1.03 million average estimate based on two analysts.
View all Key Company Metrics for LendingClub here>>>
Shares of LendingClub have returned -11.5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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LendingClub Corporation (LC) : Free Stock Analysis Report
