Have you been eager to see how LendingClub Corporation LC performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based online market place for connecting borrowers and investors in the U.S. company’s earnings release this morning:EarningsLendingClub came out with earnings of 1 cent per share. This was in line with the Zacks Consensus Estimate for the quarter.Improved revenues were offset by higher expenses.How Was the Estimate Revision Trend?You should note that the earnings estimate revisions for LendingClub depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last 7 days.However, LendingClub has a decent earnings surprise history. The company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 122.22% in the trailing four quarters.Revenue Came In Better Than ExpectedLendingClub posted revenues of $152.3 million, which outpaced the Zacks Consensus Estimate of $148.26 million. Moreover, it was up 87% year over year.Major DevelopmentLending Club announced that the board of directors accepted the resignation of Renaud Laplanche as Chairman and CEO. Laplanche resigned following an internal review of sales of $22 million in near-prime loans to a single investor, in violation of the investor's express instructions as to a non-credit and non-pricing element, in March and April 2016.Further, Lending Club announced that Scott Sanborn will continue in his role of President and will become acting CEO. Further, the company did not provide any guidance.Following the news of resignation of CEO, shares of LendingClub have plunged nearly 30% in the pre-market trading.Key StatisticsAdjusted EBITDA was $25.2 millionLoan originations were $2.75 billionAs of Mar 31, 2016, cash, cash equivalents and securities available for sale were 868 million What Zacks Rank SaysThe estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for LendingClub. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report LENDINGCLUB CP (LC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research