SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — LendingClub Corp. (LC) on Tuesday reported first-quarter net income of $12.3 million.
On a per-share basis, the San Francisco-based company said it had net income of 11 cents.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The company that connects borrowers and lenders online posted revenue of $180.7 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $174.5 million.
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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
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