LendingTree parent posts record revenue in 2Q
08/05/2014 4:21 PM
08/05/2014 4:27 PM
LendingTree’s parent company reported record revenue in the second quarter, helped by a push into non-mortgage-related products.
Charlotte-based Tree.com said total revenue increased 13 percent to $42.1 million from a year ago, with revenue from non-mortgage products such as education and personal loans jumping 105 percent to $7.5 million from a year ago.
LendingTree is an online marketplace that matches borrowers with mortgage lenders, but in recent years its parent company has branched into other consumer lending products.
For the second quarter, Tree.com posted a profit from continuing operations of $2.7 million, an improvement from a loss of $2 million a year ago. When including discontinued operations, the company lost $248,000, down from a profit of $7.1 million a year ago.
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