LendingTree Revenue Climbs 12% as Goodwill Charge Drives Q3 Loss

LendingTree posted third-quarter revenue of $343.6 million, up 12% year over year, while a noncash goodwill impairment contributed to a $72.4 million GAAP net loss. The quarter ended Sept. 30. Diluted loss per share was $5.15, and the goodwill impairment charge totaled $98.8 million. LendingTree operates an online marketplace that connects consumers with financial products, including loans, credit cards and insurance. Insurance revenue rose 15% year over year to $234.9 million. Consumer revenue increased 2% to $67.2 million, while Home revenue grew 9% to $41.5 million.

Source: TokenPost