Why shares in Lending Club jumped

San Francisco-based loan-marketplace Lending Club has stabilized its loan volume following a rocky year, news that sent shares with the stock up as much as 19 % on Monday.

Lending Club posted third-quarter earnings and revenue that surpassed analysts' expectations, and unveiled a brand new lending arrangement with the Nationwide Financial institution of Canada. Lending Club reported total net revenue of $114.6 million, which exceeded the $103.7 million predicted by analysts.
"LendingClub extended $1.97 billion in loans from July to September, 12% less than the same time period last year but somewhat much more than it extended during the preceding quarter," the Wall Street Journal reviews."The enterprise awarded cash managers who bought its loans all through July and August with about $11 million in income incentives, only half the sum the firm had planned to shell out on them."


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