LendingClub Shares Rise On Earnings Beat, Forecast

LendingClub Corp. shares rose in the extended session Tuesday after the online matchmaker for lenders and borrowers reported quarterly results and an outlook that topped Wall Street estimates. LendingClub shares rose 3% to $18.10 on moderate volume. The company reported adjusted first-quarter earnings of 2 cents a share on revenue of $81.2 million. Analysts surveyed by FactSet had expected LendingClub to break even on revenue of $75.7 million. LendingClub forecast revenue of $90 million to $92 million for the second quarter, and $385 million to $392 million for the year. Analysts had estimated $87.9 million for the second quarter, and $379.4 million for the year.