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SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — LendingClub Corp. (LC) on Tuesday reported fourth-quarter profit of $9.7 million.
On a per-share basis, the San Francisco-based company said it had profit of 8 cents. Earnings, adjusted for asset impairment costs, came to 11 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The company that connects borrowers and lenders online posted revenue of $217.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $207.5 million.
For the year, the company reported profit of $51.3 million, or 45 cents per share. Revenue was reported as $787 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