LendingClub is diving after earnings miss

LendingClub shares fell by as much as 8% in after-hours trading after the company reported worse-than-expected earnings and some management changes.

The peer-to-peer lender reported an adjusted loss per share of $0.09, greater than the $0.03 analysts had expected, according to Bloomberg.

Its net revenues beat expectations at $103.4 million ($100.6 million expected).

The company annoucned in May that founder and former CEO Renaud Laplanche stepped down after an investigation into improper lending practices.

On Monday, LendingClub annouced that CFO Carrie Dolan was stepping down.

More to come …

NOW WATCH: Research reveals why men cheat, but it’s not what you think

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.