OnDeck Q2 Earnings Announcement

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Update: The news reports that said OnDeck was reporting earnings today on July 6th were false
An OnDeck representative said they have not yet scheduled a date.

OnDeck (ONDK) was reportedly going to release 2015’s Q2 earnings after the market closed on Monday, July 6th (That information was confirmed as false.) Analysts predict the company will show a loss of 7 cents a share.

The company has faced a fierce sell-off in recent weeks, moving the stock to all time lows and down more than 50% from its high. The trend began after the Q1 report in which company executives argued that a decrease in the interest rates charged to their customers was not a response to competitive pressure.

Bloomberg’s Zeke Faux ran the following headline anyway:

ondeck zeke faux

Since then, the stock has struggled to recover. I posted a summary of why that might be on June 29th, in a short piece tiled, What Happened to OnDeck.

Barron’s was particularly tough on them, labeling them a subprime lender in dot-com clothing. For now, the key to an OnDeck rebounds seems to be about shedding that toxic label and convincing investors that despite a crowded field, they are the clear standout choice.

An increase in the default rate this quarter however would probably evoke a further negative response.

Last modified: July 6, 2015
Sean Murray

Category: Business Lending, Industry News, merchant cash advance

Home Business Lending, Industry News, merchant cash advance › OnDeck Q2 Earnings Announcement


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