Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has scheduled 2nd quarter earnings (ending June 30) release for August 8, 2016, after the market closes. Lending Club will host its earnings conference call at 2PM PT or 5PM ET that day.
A live webcast of the call will be available at on the Lending Club website under the Events & Presentations menu. Interested individuals may dial +1 (888) 317-6003. Outside the U.S. +1 (412) 317-6061, with conference ID 3575411.
The results will be closely watched for indications of improving loan volume. Lending Club has had a challenging year, impacted by a stuttering economy and the unexpected departure of founder and former CEO Renaud Laplanche. Just last month, Lending Club announced a staff reduction of 179 employees as demand for credit slowed. Lending Club incorporated additional incentives to boost activity, something the company expects to transition away from in Q4 with revenue and EBITDA anticipated to grow in the first half of 2017. Lending club is trading at just over $4 per share, down from the 52 week high of over $15 per share.