Why Shares of LendingClub Skyrocketed This Week

·2-min read
Why Shares of LendingClub Skyrocketed This Week

Shares of the digital marketplace bank LendingClub (NYSE: LC) shot up as much as 30% this week after another terrific quarter of earnings results. In the third quarter, LendingClub reported diluted earnings per share of $0.27 on total revenue of more than $246 million, both numbers that beat analyst estimates. The company also did more than $3.1 billion of loan originations, the main driver of revenue.

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