NEW YORK (TheStreet) -- Lending Club Corp.(LC) - Get Report stock is rising 1.89% to $7.01 in afternoon trading on Friday after the San Francisco-based company reported better than expected financial results for the 2015 fourth quarter before yesterday's market open.
The company, which operates an online marketplace that connects borrowers and investors, reported earnings of 5 cents per share for the quarter ended December 31, beating estimates of 4 cents per share.
Revenue jumped 93% year-over-year to $135.52 million for the quarter, while analysts had estimated $130.6 million.
"Our operating efficiency reached record levels in Q4, and our credit performance, marketing efficiency and customer satisfaction remain very strong," CEO Renaud Laplanche said in a statement.
Loan originations increased 82% to $2.58 billion for the fourth quarter, allowing its total annual origination run rate to reach $10 billion last year.
Separately, Lending Club has a "sell" rating and a letter grade of D- at TheStreet Ratings because of the company's high debt management risk, declining gross profit margin and lower-than-average return on equity.
You can view the full analysis from the report here: LC
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