LendingTree earnings for the second quarter of 2019 have TREE investors taking an axe to the stock.
The bad news for LendingTree (NASDAQ:TREE) starts with its earnings per share of $1.18 for the second quarter of the year. This is a drop from the company’s earnings per share of $1.47 from the same time last year. It was also taking a chunk out of TREE stock by missing Wall Street’s earnings per share estimate of $1.41 for the quarter.
The LendingTree earnings report for the second quarter of 2019 also has net income coming in at $12.22 million. That’s a far cry from the company’s net income of $42.55 million reported in the second quarter of 2018.
Operating income reported in the LendingTree earnings release for second quarter of the year comes in at $12.32 million. The company’s operating income from the same period of the year prior was $18.12 million.
The most recent LendingTree earnings report also sees it bringing in revenue of $278.42 million. This is up from the loan company’s operating income of $184.10 million reported in the second quarter of the previous year. It also beats out analysts’ revenue estimate of $267.43 million for the period, but couldn’t stop TREE stock from falling today.
LendingTree also takes time in its most recent earnings report to update its 2019 outlook. This has it increasing its revenue guidance from between $1.06 billion and $1.09 billion to a range of $1.08 billion to $1.10 billion. Wall Street is looking for revenue of $1.08 billion for the full year of 2019.
TREE stock was down 15% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.