LendingTree jumps on annual forecast raise, Q1 results beat

LendingTree

30/04/2024 13:14

** Shares of online lending marketplace LendingTree  TREE.O 
rise 7.8% to $40.25 premarket
    ** Co sees FY24 revenue between $690 mln and $720 mln;
compared to prior range of $650 mln and $690 mln
    ** Forecasts Q2 revenue in the range of $175 mln - $190 mln;
above Wall Street view of $168.30 mln 
    ** Q1 revenue of $167.80 mln beat average analysts'
estimates of $162.80 mln
    ** Quarterly adj. EPS of 70 cents; vs. IBES estimate of 37
cents
    ** Six of eight brokerages rate the stock "buy" or higher,
two "hold"
    ** Up to Monday's close, stock had risen 23.2% YTD

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