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LendingClub Stock Leaps on Earnings Beat, Year Guidance

LendingClub had a stronger-than-expected third quarter and raised its full-year guidance. The stock is up double digits.
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Shares of LendingClub Bank  (LC) - Get LendingClub Corp Report jumped Thursday following the digital marketplace bank stronger-than-expected third quarter and raised full-year guidance. 

At last check LendingClub shares jumped 29% to $40.92. The stock has nearly quadrupled year to date. 

The San Francisco company swung to earnings of 26 cents a share from a loss of 38 cents a share in the year-earlier quarter. 

The latest figure was more than double the 12-cent;profit estimate in a survey of analysts by FactSet. 

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Revenue tripled from a year earlier to $246 million from $71 million and beat the analyst estimate of $222 million.

For the year, the company now expects revenue to come in between $796 million and $806 million. Analysts polled by FactSet are expecting full-year revenue of $758 million. 

LendingClub, founded in 2007, now has a customer base of 3.8 million. Consumers continue to move to online banking, Chief Executive Scott Sanborn said in a statement.