Sterne Agee CRT Downgrades Lending Club (LC) to Underperform

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Go back to Sterne Agee CRT Downgrades Lending Club (LC) to Underperform

Lending Club Reports First Quarter 2016 Results - Chairman & CEO Renaud Laplanche Resigns

May 9, 2016 7:00 AM EDT

SAN FRANCISCO, May 9, 2016 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, today reported solid growth in originations, operating revenue, and adjusted EBITDA, notwithstanding a difficult operating environment. Operating revenue in the first quarter of 2016 was $151.3 million, an increase of 87% year-over-year. Adjusted EBITDA was $25.2 million in the first quarter of 2016, an increase of 137% year-over-year.

Lending Club today also reported that on May 6, 2016, the board of directors accepted the resignation of Renaud... More