Shares of LendingClub Corp. fell more than 14% in the extended session Wednesday after the company gave 2022 earnings guidance lower than analysts expected.
LendingClub LC,
The company guided for first-quarter revenue between $255 million and $265 million, and full-year 2022 revenue between $1.1 billion and $1.2 billion. It expects to earn between $25 million and $30 million in the quarter, and between $130 million and $150 million in the year.
Analysts on average forecast first-quarter revenue of $257 million and full-year sales of $1.16 billion, but expected more profit than LendingClub executives. The average consensus called for first-quarter consolidated net income of $31.2 million and full-year earnings of $184.8 million, according to FactSet.
LendingClub shares more than doubled in the past year, despite a recent pullback. The S&P 500 SPX,
