LendingClub Third Quarter 2024 Earnings: Beats Expectations

LendingClub (NYSE:LC) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$302.0m (up 11% from 3Q 2023).
• Net income: US$14.5m (up 189% from 3Q 2023).
• Profit margin: 4.8% (up from 1.8% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.13 (up from US$0.046 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

LendingClub Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 83%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in the US.

Performance of the American Consumer Finance industry.

The company's shares are up 7.0% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for LendingClub you should be aware of.

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