LPRO - Why Shares of Open Lending Are Up Today
Shares of the auto lending platform Open Lending (NASDAQ: LPRO) traded nearly 10% higher as of 10:55 a.m. EDT after the company reported its earnings results for the second quarter of 2021.
Open Lending reported diluted earnings per share of $0.60 on total revenue of more than $61 million in the second quarter, both numbers that are up significantly from the second quarter of 2020. Both EPS and revenue beat analysts' estimates significantly as well.
Open Lending grew certified loans for its partners by 148% from the second quarter of 2020, which translated into significant growth in program and profit sharing fees.
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Why Shares of Open Lending Are Up Today