LendingClub reports Q2 EPS 33c, consensus 15c

Reports Q2 Book value per common share $12.25, vs $11.52 in the prior year. Reports Q2 ROE 11.1% and ROTCE of 11.8%. “We had an exceptional quarter with year-over-year originations and revenue growth of 32% and 33%, respectively. Strong revenue growth combined with credit outperformance resulted in $38M of net income, delivering double digit ROTCE in excess of our target and ahead of schedule,” said Scott Sanborn, LendingClub (LC) CEO. “We also announced a long-term loan sales partnership extension and launched another new product with our innovative LevelUp Checking account. I’m energized by the results across the business and look forward to building on the momentum over the second half of the year.”