Does LendingClub (LC) have what it takes to be a top stock pick for momentum investors? Let's find out.
LendingClub Corporation (NYSE:LC ) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET Company Participants Artem Nalivayko - Head, Investor Relations Scott Sanborn - Chief Executive Officer Drew LaBenne - Chief Financial Officer Conference Call Participants Giuliano Bologna - Compass Point Vincent Caintic - BTIG Bill Ryan - Seaport Research Partners David Chiaverini - Wedbush Securities Reggie Smith - JPMorgan Brad Capuzzi - Piper Sandler Tim Switzer - KBW Operator Good afternoon. Thank you for attending today's LendingClub 2Q '24 Earnings Conference Call.
LendingClub's latest results noted growth in loan originations, a surge in repeat business — and cross-pollination efforts that management said reflect the ability to deepen, and lengthen, customer relationships. CEO Scott Sanborn noted on the conference call with analysts that originations were up 10% to more than $1.8 billion.
LendingClub (LC) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.09 per share a year ago.
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LendingClub has sold more than $3 billion in loans through its Structured LendingClub Loan Certificate program since the launch of that program in April 2023.
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