LendingClub (NYSE:LC) held their Q2 earnings call today and it was by far the most positive report delivered in multiple quarters. Growth has returned to the marketplace lending club as originations rose in Q2 as did top line revenue. LendingClub upped guidance for Q3 and the entire year.
LendingClub CEO Scott Sanborn and CFO Tom Casey emphasized their focus on growth as well as earnings, along with the improved environment for online lending and the data that supports it. LendingClub closed its first self sponsored securitization earlier this year and the results have been encouraging enough they expect this to continue going forward. There is a focus on generating Net Income as management expects originations will continue to move higher in Q3.
Sanborn said, “we feel great about the quarter and we feel great about the path ahead.”
Embedded below is the earnings deck shared during the conference call.
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