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LendingClub forecasts bigger-than-expected first-quarter loss

Firstpost Wednesday, 20 February 2019
(Reuters) - Online lender LendingClub Corp forecast a bigger-than-expected first-quarter loss on Tuesday and revenue that missed Wall Street estimates, sending the company's shares down 9 percent in after-market trading. For the first quarter, the company expects net revenue between $162 million and $172 million, below analysts' estimates of $181.2 million, according to IBES data from Refinitiv. LendingClub also forecast a first-quarter net loss between $20 million and $15 million, compared to Wall Street estimates of a loss of $5.14 million
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