BUZZ-LendingTree sinks after quarterly sales forecast misses estimates

Reuters
02 May
BUZZ-<a href="https://laohu8.com/S/TREE">LendingTree</a> sinks after quarterly sales forecast misses estimates

** Shares of online lending marketplace LendingTree TREE.O fall 27% to $39.47

** Stock set for biggest single-day percent drop in over 9 years, if losses hold

** Late on Thursday, co forecast Q2 sales between $241 mln and $248 mln; analysts were expecting sales of $248.5 mln - LSEG

** Co posts Q1 sales of $239.7 mln, below analysts' est of $244.9 mln - LSEG

** Brokerage Northland Securities said Q1 results and forecast were "disappointing" due to macro uncertainty and regulatory headwinds

** Co reports Q1 adj profit of 99 cents/share, compared with est profit of 65 cents/share - LSEG

** Including session's move, stock up 0.8% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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