Lending Club held it’s Q2 2015 earnings call today and expenses continue to be on the minds of many investors. The stock has had a steady decline since last quarter. As I reported in the last earnings release, LC closed previously at $17.58. It has since fallen to close today at 13.84. Below are some of the highlights from their earnings release as well as a review of the questions that were asked during the question and answer session.
Loss per share came in at ($0.01) for the second quarter of 2015. This is compared to EPS of ($0.16) in the same period last year. Revenue growth remains strong with $96.1 million for 2015, up from $48.6 million in the same period last year. This is an increase of 98% year-over-year. Lending Club has a strong balance sheet with cash, cash equivalents and securities available for sale totaling $888 million, with no outstanding debt.