On Monday, Shares of Lending Club Corp (NYSE:LC), gained2.89% to $14.59.
Lending Club, declared financial results for the third quarter ended September 30, 2015 and again raised its outlook for the remainder of the year.
Third Quarter 2015 Financial Highlights
- Originations – Loan originations in the third quarter of 2015 were $2.24 billion, contrast to $1.17 billion in the same period last year, an improvement of 92% year-over-year. The Lending Club platform has now facilitated loans totaling over $13.4 billion since inception.
- Operating Revenue – Operating revenue in the third quarter of 2015 was $115.1 million, contrast to $56.5 million in the same period last year, an improvement of 104% year-over-year. Operating revenue as a percent of originations, or revenue yield, was 5.15% in the third quarter, up from 4.85% in the preceding year.
- Adjusted EBITDA(2) – Adjusted EBITDA was $21.2 million in the third quarter of 2015, contrast to $7.5 million in the same period last year. As a percent of operating revenue, Adjusted EBITDA margin raised to 18.4% in the third quarter of 2015, up from 13.3% in the preceding year.
- Net Income – GAAP net income was $1.0 million for the third quarter of 2015, contrast to a net loss of $7.4 million in the same period last year. GAAP net income comprised $13.5 million of stock-based compensation expense during the third quarter of 2015, contrast to $10.5 million in the preceding year.
- Earnings Per Share (EPS) – Basic and diluted earnings per share was $0.00 for the third quarter, contrast to basic and diluted EPS of ($0.12) in the same period last year.
LendingClub Corporation operates as an online marketplace for connecting borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, counting unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans.
Shares of McGraw Hill Financial Inc (NYSE:MHFI), declined -0.42% to $92.25, during its last trading session.
McGraw Hill Financial, declared that the Company will commence a process to explore planned alternatives for J.D. Power, a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. In 2016, J.D. Power is presently estimated to have annual revenues approaching $350 million.
“With its iconic brand name, J.D. Power has a terrific market position and has prospered under the Company’s ownership,” said Douglas L. Peterson, President and Chief Executive Officer of McGraw Hill Financial. “However, going forward, we have raised our focus on capital and commodity markets and believe that J.D. Power could be more valuable to a company in the market research and consumer analytics space that could better leverage its capabilities.”
McGraw Hill Financial, Inc. provides benchmarks and ratings, analytics, data, and research services for the capital, commodities, and commercial markets worldwide. It operates in four segments: Standard & Poor’s Ratings Services (S&P Ratings), S&P Capital IQ, S&P Dow Jones Indices (S&P DJ Indices), and Commodities & Commercial (C&C).
Finally, Shares of The Western Union Company (NYSE:WU), ended its last trade with 0.78% gain, and closed at $19.40.
The Western Union Company, stated financial results for the 2015 third quarter and affirmed its full year financial outlook, which was formerly offered on July 30, 2015.
On a constant currency basis, third quarter revenues raised 3% contrast to the preceding year period. Stated revenues declined 3%, primarily due to the impact of the stronger U.S. dollar. Earnings per share raised 2% to $0.45 in the quarter.
“We delivered another good quarter and are on track with our expectations, as the business remained resilient despite geopolitical and global economic challenges,” said President and Chief Executive Officer Hikmet Ersek. “U.S. outbound money transfer offered solid results and our westernunion.com online transaction sites, which are now activated in 33 countries, once again produced strong growth.”
The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations.