LendingTree Hit A Record 4Q In 2018
LendingTree recorded a record 202.7 million in consolidated revenue in the 4Q of 2018, which happens to be reportedly up 26% from 4Q 2017, according to a recent press release.
"The fourth quarter capped off another terrific year for LendingTree. The strategic diversification of our business over the last several years enabled us to successfully navigate a difficult mortgage environment in 2018 and will continue to be a competitive advantage for us in the years to come," said Doug Lebda, Chairman and CEO.
"In addition to the diversification that has clearly taken shape, we made great progress on several strategic initiatives including increasing organic traffic through the build-out of My LendingTree."
Lebda revealed that the company now has the infrastructure in place to execute brand marketing profitably and at scale. LendingTree also plans on continuing to invest in improving the mortgage experience for both borrowers and lenders.
The company's mortgage revenue however, declined 31% compared to the 2017 4Q. The decline was attributed to a drop in refinance revenue.
To learn more about LendingTree's 4Q financials, click on the image above.