NEW YORK (TheStreet) -- LendingClub (LC - Get Report) shares are up 5.21% to $14.55 in after-hours trading on Tuesday following the release of the online investment marketplace's second quarter results today.
The San Francisco-based company reported second quarter loan origination of $1.91 billion compared to $1.01 billion last year, yielding earnings of 3 cents per share on an adjusted basis.
Operating revenue for the period increased 98% year over year to $96.1 million.
Analysts on average were expecting the company to report earnings of 2 cents per share on revenue of $91.6 million.
"The second quarter was another example of how our diversified borrower channel and investor mix is driving fast and efficient growth. We continue to see improving sales and marketing efficiency in our standard personal loan product and we saw better than expected acceptance and response rates in our custom products," said CFO Carrie Dolan.LC data by YCharts