November 6, 2018 / 12:09 PM / 8 days ago

Online lender OnDeck posts quarterly profit

Nov 6 (Reuters) - OnDeck Capital Inc on Tuesday reported a quarterly profit from a year-ago loss, as the online lender benefited from higher interest income.

New York-based OnDeck posted net income attributable to common shareholders of $9.8 million, or 12 cents per share, in the quarter ended Sept. 30, compared with a loss of $4.1 million, or 6 cents per share, a year earlier.(reut.rs/2OtChp2)

Net revenue rose 60 percent to $52.2 million.

The company also raised its full-year earnings outlook. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shailesh Kuber)

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