Why LendingTree Stock Tumbled Today
Shares of LendingTree (NASDAQ: TREE) were falling today as the online loan marketplace posted disappointing results in its second-quarter earnings report, missing top-line estimates and slashing its full-year revenue guidance.
As a result, the stock was down 18.8% as of 11:02 a.m. ET.
LendingTree, which provides an online platform to allow borrowers to easily search for, compare, and obtain loans, said that revenue in the quarter fell 30% to $182.5 million, missing estimates at $193.6 million.
Source Fool.com
