LendingTree, Inc. - TREE STOCK NEWS

LendingTree has launched a weekly cash giveaway of $1,000 for users who link their bank accounts to their platform, running from August 2 to August 28, 2021. This initiative aims to help consumers understand their finances by providing a holistic view of their financial picture, including budgets, spending habits, and credit scores. Users can connect accounts from over 11,000 financial institutions. LendingTree emphasizes data protection through encryption and secure technology for user safety.

LendingTree, Inc. (NASDAQ: TREE) reported strong Q2 2021 results, revealing a 47% year-over-year increase in total revenue to $270 million. The Consumer segment surged by 104%, greatly influenced by growth in credit card and personal loans. The Home segment generated $104.9 million in revenue, up 42%, while Insurance revenues rose 22% to $89.3 million. The company anticipates continued momentum into Q3 with expected revenues between $285-$298 million. Notably, net income soared to $9.8 million, a 214% increase from the previous year, highlighting a substantial recovery from pandemic impacts.

LendingTree released its annual ranking of the best U.S. metropolitan areas for first-time homebuyers. The top three cities are Kansas City, MO, Oklahoma City, OK, and Louisville, KY, based on factors like average down payments and buyer credit scores. Oklahoma City and Kansas City reported the lowest average down payments, at $28,777 and $30,219, respectively, compared to the national average of $63,216. Meanwhile, San Diego leads in FHA loan utilization, with 22.6% of buyers opting for this option.

LendingTree, Inc. (NASDAQ: TREE) is set to release its fiscal second quarter 2021 results on July 29, 2021, at 7:00 a.m. ET. A letter to shareholders will be available on their website. The company will also hold a conference call at 9:00 a.m. ET, available via webcast. Interested participants can join by calling 877-606-1416 (toll-free) five minutes prior to the start. A replay of the call will be available through August 6, 2021.

According to a recent LendingTree survey, 70% of Americans are struggling to find products and services due to ongoing shortages. Key findings highlight that 54% are delaying major purchases and projects, while 71% are willing to pay more for products if it leads to higher wages. The most reported shortages include meat, gas, and appliances. The survey reflects a significant consumer impact and emphasizes the importance of patience during these challenging times.

A new report from LendingTree indicates that 48% of credit cardholders prefer using debit cards as their primary payment method. Many credit card users reserve their cards for significant purchases or emergencies to avoid overspending. The survey highlights stress around credit card bills, with 43% of respondents admitting to avoiding their statements, a sentiment especially prevalent among Gen Z (64%) and millennials (60%). The report further reveals that women are 41% more likely than men to carry a balance, while 45% of low-income earners and 22% of those making over $100,000 regularly carry a credit card balance.

On June 14, 2021, a LendingTree report showed that 25% of Americans plan to attend concerts this summer, with 60% of them willing to spend extra to support artists recovering from pandemic losses. The survey indicated that attendance is notably higher among millennials (36%) and Gen Z (32%). Many concertgoers are prepared to incur debt for their experiences, with about half of attendees aged 40 and under considering this option. Additionally, 42% will use credit card rewards to cover costs. These findings reflect a strong desire to return to live events.