LendingTree falls on downbeat FY rev forecast, weak Q1 results

LendingTree

02/05/2023 13:10

** Shares of consumer lending firm LendingTree Inc  TREE.O 
fall 21.4% to $18.36 premarket following quarterly results 
    ** Co cuts FY23 rev forecast to $760 mln - $800 mln compared
to prior forecast of $935 mln - $985 mln; analysts were
expecting $945.6 mln - Refinitiv data
    ** Sees Q2 rev between $190 mln - $200 mln - below market
view of $244.3 mln
    ** Co posts Q1 rev of $200.5 mln, down from $283.2 mln in
the prior year; below estimates of $207 mln
    ** Qtrly net income was $13.5 mln or $1.04/ share vs a loss
of $10.8 mln or 84 cents/share a year ago
    ** Up to last close, stock had risen 9.56% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))