Shares of LendingClub Corp (NYSE:LC) ended Wednesday session in green amid volatile trading. The shares closed up +0.06 or 1.12% at $5.41 with 391.15 million shares getting traded. Post opening the session at $5.33 the shares hit an intraday low of $5.29 and an intraday high of $5.44 and the price vacillated in this range throughout the day. The company has a market cap of $2.10 billion and the numbers of outstanding shares have been calculated to be 391.15 million shares.
LendingClub Corp (LC) on Aug. 8, 2016 announced financial results for the second quarter ended June 30, 2016 and re-established guidance for the third quarter.
Second Quarter 2016 Financial Highlights
Originations – Loan originations in the second quarter of 2016 were $1.96 billion, compared to $1.91 billion in the same period last year, an increase of 2% year-over-year. The Lending Club platform has now facilitated loans totaling nearly $21 billion since inception.
Operating Revenue – Operating revenue in the second quarter of 2016 was $102.4 million, compared to $96.1 million in the same period last year, an increase of 7% year-over-year. Operating revenue as a percent of originations, or revenue yield, was 5.24% in the second quarter, up from 5.03% in the same period last year.
Net Loss – GAAP net loss was $81.4 million for the second quarter of 2016, compared to a net loss of $4.1 million in the same period last year. The results for the second quarter of 2016 were negatively affected by a Goodwill impairment charge of $35.4 million related to the 2014 acquisition of Springstone, an increase in professional service fees of $14.9 million primarily due to matters identified in the board review previously announced, approximately $14.0 million in incentives paid to investors, and an increase in compensation related costs of $6.5 million associated with severance costs and a retention program.
Shares of Banco Bradesco SA (ADR) (NYSE:BBD) ended Wednesday session in green amid volatile trading. The shares closed up +0.50 points or 5.38% at $9.30 with 2.76 billion shares getting traded. Post opening the session at $9.13 the shares hit an intraday low of $9.11 and an intraday high of $9.35 and the price vacillated in this range throughout the day. The company has a market cap of $52.33 billion and the numbers of outstanding shares have been calculated to be 2.76 billion shares.
Banco Bradesco SA (ADR) (BBD) provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts various deposit products, such as demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes. The company also offers loans comprising personal and short-term loans, vehicle financing, overdraft loans, and payroll-deductible loans; housing loans; and government-funded long-term loans, such as BNDES onlending/FINAME.