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Financial services earnings roundup, Aug. 7

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Financial services earnings roundup, Aug. 7

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the financial services space.

Financial technology

First Data Corp. reported second-quarter net income attributable to the company of $185 million, or 20 cents per share, an increase from $152 million, or 17 cents per share, in the prior-year quarter.

Adjusted net income for the quarter was $378 million, or 40 cents per share, up from $323 million, or 35 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the period was 40 cents.

Investment company

Two Harbors Investment Corp. reported second-quarter net income attributable to common shareholders of $4.3 million, compared with a loss of $17.0 million in the prior-year quarter. The company had GAAP EPS of 1 cent for the recent quarter.

Core earnings attributable to common shareholders were $97.5 million, 28 cents per share, for the second quarter, compared with $80.5 million, or 23 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 27 cents.

Specialty lender

LendingClub Corp. reported a second-quarter GAAP net loss of $25.4 million, or a loss of 6 cents per share, compared with a net loss of $81.4 million, or a loss of 21 cents per share, in the prior-year period.

The company recorded an adjusted net loss of $5.3 million, or a loss of 1 cent per share, up from an adjusted net loss of $35.0 million, or a loss of 9 cents per share, in the second quarter of 2016.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was for a loss of 2 cents.

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Nelnet Inc. posted second-quarter net income attributable to the company of $28.7 million, or 68 cents per share, compared with $26.2 million, or 61 cents per share, in the year-ago quarter.

Net income excluding derivative market value and foreign currency transaction adjustments was $45.8 million, or $1.08 per share, versus $48.0 million, or $1.13 per share, in the prior-year quarter.

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On Deck Capital Inc. reported a second-quarter net loss attributable to common shareholders of $1.5 million, or 2 cents per share, compared with a loss of $17.9 million, or 25 cents per share, in the year-ago quarter.

On Deck's adjusted loss in the second quarter was also 2 cents per share, compared with a loss of 20 cents per share in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was a loss of 1 cent.