OnDeck Capital (NYSE: ONDK) reported second-quarter adjusted earnings of 9 cents per share, which was 3 cents lower than what the street expected. Meanwhile, revenues were up 15% year-over-year, driven by higher interest and finance income.
Q2 revenue of $110.2 million was slightly better than the analysts’ projection of $109.2 million.
Loans and finance receivables increased 15% from a year ago to $1.2 billion, reflecting annual growth in all loan types and the closing of the Evolocity transaction in April 2019.
ONDK shares closed their last trading session up 1.28% on Friday. The stock has declined 34% in the year-to-date period.
For the third quarter, the company expects adjusted net income between $4 million and $8 million on gross revenue of $108 million to $112 million.
For the full year, adjusted net income is projected in the range of $22 million to $30 million on revenues of $438 million to $448 million.
CEO Noah Breslow said, “After careful consideration and analysis, we have decided to pursue a bank charter, which will enable us to offer our small business customers a wider range of products while improving our financial profile.”
Tyson Foods Inc. (NYSE: TSN) reported first quarter 2023 earnings results today. Sales rose 2.5% year-over-year to $13.2 billion. Net income attributable to Tyson was $316 million, or $0.88 per
Apple Inc. (NASDAQ: AAPL) this week reported its first revenue decline in more than three years, even as the high inflation continues to squeeze customers’ spending power. Sales of the
Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported lower earnings and revenues for the first quarter of 2023. The company also provided guidance for the second quarter of 2023. At $9.5