LendingClub jumps after Q3 profit beats estimates

Happen

24/10/2024 14:59

** Financial services firm LendingClub's  LC.N  shares jump
as much as 24.5%, last up 19.4% at $14.88
    ** Company on Wednesday reported Q3 profit of 13 cents/shr
vs est 7 cents/shr - LSEG
    ** Q3 net interest income rose 2% to $140.2 mln
    ** Total assets have grown 25% so far this year, driven by
the purchase of a $1.3 bln loan portfolio by LendingClub
    ** CEO Scott Sanborn says the return of buyers is driving
improved loan sales pricing
    ** As of last close, LC shares up 42.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))