Shares of Lending Club slumped 8% in after-hours trade after the online marketplace for lenders and borrowers reported fourth-quarter results, its first as a public company, that only matched expectations while providing an in-line outlook for 2015. For the quarter ended Dec. 31, net earnings were $2.86 million, or breakeven on a per-share basis, compared with a loss of $9.04 million, or 7 cents a share, in the year-earlier period. Excluding non-recurring items, adjusted per-share earnings were a penny a share, matching the FactSet consensus analyst estimate. Total revenue more than doubled to $69.6 million from $33.5 million, topping the FactSet consensus of $66.3 million, as loan originations doubled to $1.415 billion. The company said it expects first-quarter revenue in the range of $74 million to $76 million, which is above the FactSet consensus of $72.8 million, but its full-year outlook of $370 million to $380 million is just in line with expectations of $372 million. The stock, which started trading on Dec. 11, closed Tuesday 58% above its initial public offering price of $15.
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