LendingClub reports Q2 adjusted EPS 9c, consensus 4c

Reports Q2 revenue $232.5M, consensus $227.37M. Reports Book value per common share of $11.09, up from $11.08 in the prior quarter, and tangible book value per common share of $10.26, up from $10.23 in the prior quarter. “We’re leaning into our data, membership, and business model advantages to deliver continued profitability in a difficult environment,” said Scott Sanborn, LendingClub CEO. “While we expect the headwinds in the marketplace to persist, we’re managing the business prudently, continuing our disciplined credit underwriting, and developing new structures to meet the evolving needs of loan investors. We are maintaining strong liquidity and capital and remain positioned to capture the massive long-term growth opportunities to help our members keep more of what they earn and earn more on what they save.”