May 7, 2019 / 8:15 PM / 12 days ago

LendingClub posts smaller loss as fee income rises

May 7 (Reuters) - LendingClub Corp posted a smaller quarterly loss on Tuesday, as the online-loan marketplace earned more in fees from processing transactions.

The San Francisco-based company's net loss narrowed to $19.9 million, or 5 cents per share, in the first quarter ended March 31 from $31.2 million, or 7 cents per share, a year earlier.[reut.rs/2H5Bf12 ]

Total revenue rose to $174.4 million from $151.7 million. (Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D’Silva)

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