Why Shares of LendingClub Are Getting Crushed Today
Shares of the digital-marketplace bank LendingClub (NYSE: LC) had dropped roughly 26.5% as of 11:41 a.m. ET today after the company reported earnings results for the fourth quarter and full year of 2021.
The company, which is largely in the business of using technology to more efficiently originate unsecured personal loans, reported diluted earnings per share of $0.27 on total revenue of more than $262 million, both of which beat analyst estimates.
However, management's guidance of $130 million to $150 million of net income implies smaller profits than analysts had been penciling in for this year, which appears to be the main reason the stock is getting hit so hard.
Source Fool.com
