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Sep 30, 2022
LendingClub Q3 2022 Earnings Report
Delivered solid results with strategic advantages of our digital bank amidst a less favorable economic environment.
Key Takeaways
LendingClub Corporation reported strong third-quarter results, with revenue up 24% year-over-year to $304.9 million and diluted earnings per share increasing 58% year-over-year to $0.41. The company drove growth in recurring interest income, supported by the strong credit performance of its retained high-quality prime loan portfolio. The results reflect the strategic advantages of LendingClub's digital bank model.
Loan originations were $3.5 billion, up 14% year over year.
Total net revenue of $304.9 million grew 24% year over year, driven by growth in net interest income.
Net interest income increased 89% year over year to $123.7 million.
Diluted earnings per share of $0.41 grew 58% year over year.
Forward Guidance
The company provided full year net revenue and net income guidance for 2022.
Positive Outlook
- Total net revenue: $255M to $265M
- Total net revenue: $1,180M to $1,190M
- Net income: $15M to $25M
- Net income: $280M to $290M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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