LendingClub reports Q2 EPS 13c, consensus 4c

Reports Q2 revenue $187.2 M, consensus $177.08M. Tangible book value per common share increased to $10.75, compared to $10.61 in the prior quarter. “Our Q2 results mark an inflection point, with our business calibrated to the current rate environment and positioned to accelerate as conditions improve,” said CEO Scott Sanborn. “Thanks to our unique product innovations, we were able to capture strong borrower and marketplace investor demand, delivering growth in originations, revenue, and profitability. I look forward to building on our momentum in the quarters ahead.”