Online lender OnDeck quarterly profit nearly doubles

(Reuters) – Online lender OnDeck Capital Inc on Tuesday reported quarterly adjusted profit that nearly doubled, as the online lender dispensed more loans and earned more interest income.

Adjusted net income rose to $15.9 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with $8.1 million, or 10 cents per share, a year earlier.

Analysts were expecting a profit of 16 cents per share, according to IBES data from Refinitiv, although it was not clear if the numbers were immediately comparable.

Shares of the company rose 6 percent in trading before the opening bell.

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