LendingTree falls after forecasting FY rev below estimates

LendingTree

27/02/2023 14:42

** Shares of consumer lending firm LendingTree Inc  TREE.O  drop ~5% at
$35.40 in early trading 
    ** TREE expects FY 2023 rev between $935 mln and $985 mln compared with Wall
Street's view of $985.6 mln, according to Refinitiv IBES data
    ** Co says the forecast represents a decline of 0% to 5% over FY22 results
    ** "Home segment has continued to face headwinds as higher rates have
limited refinance transactions, while persistently low for-sale housing
inventory and historically high prices have combined to limit purchase
activity," - CFO Trent Ziegler
    ** TREE's Q4 rev falls ~22% to $202.1 mln missing analysts' estimates of
$208.1 mln 
    ** As of last close, shares in TREE up ~74.6% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))