SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — LendingClub Corp. (LC) on Monday reported first-quarter profit of $51.6 million.
On a per-share basis, the San Francisco-based company said it had profit of 44 cents.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The company that connects borrowers and lenders online posted revenue of $252.3 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $253 million.
LendingClub expects full-year earnings to be $1.65 to $1.80 per share.
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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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