Online lender OnDeck posts quarterly profit

Aug 7 (Reuters) – OnDeck Capital Inc on Tuesday reported a quarterly profit from a year-ago loss, as the online lender earned more from higher interest rates and rise in loan originations.

New York-based OnDeck posted net income attributable to common shareholders of $5.8 million, or 7 cents per share, in the quarter ended June 30, compared with a loss of $1.5 million, or 2 cents per share, a year earlier.

Net revenue rose 18.5 percent to $50.1 million. (Reporting by Nikhil Subba in Bengaluru; Editing by Shailesh Kuber)

Learn More about forex signal provider

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Frutarom shareholders approve $7.1 bln deal with IFF

Kroenke wins full control of Arsenal after Usmanov agrees to sell