LendingClub Stock Soars 20%. The Online Lender Had a Stellar Quarter.

The online lending company comfortably beat quarterly earnings and revenue expectations. (Don Emmert/AFP via Getty Images)

Shares of LendingClub were soaring Wednesday after the online lending company comfortably beat analysts’ earnings and revenue expectations in the second quarter.

The company, known for its debt-consolidation loans, posted earnings of 33 cents a share, surpassing Wall Street’s forecast of 15 cents. Revenue totaled $248.4 million, up 33% from the year prior and above analysts’ consensus call for $227.4 million, according to FactSet.

LendingClub stock was up 20% to $15.67 on Wednesday.

Quarterly loan origination volume grew 32% from last year to $2.4 billion, which the company attributed to effective product and marketing initiatives. Management expects volume of between $2.5 billion and $2.6 billion in the third quarter, which would represent 33% year-over-year growth at the midpoint.

The gains Wednesday put LendingClub stock on track to erase all of its losses in 2025. Shares had fallen 19% this year as of Tuesday’s close.

Write to Nate Wolf at nate.wolf@barrons.com