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LendingClub posts third straight quarterly loss
February 14, 2017 / 9:15 PM / 10 months ago

LendingClub posts third straight quarterly loss

Feb 14 (Reuters) - Online lending platform operator LendingClub Corp reported its third straight quarterly loss, largely due to higher costs.

The company reported a net loss of $32.27 million, or 8 cents per share, in the fourth quarter ended Dec.31, compared with a profit of $4.57 million, or 1 cent per share, a year earlier.

Total net operating revenue fell 3.9 percent to $129.20 million.

Reporting by Rishika Sadam in Bengaluru; Editing by Sriraj Kalluvila

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