NerdWallet Inc. fell after its key credit card revenue declined due to issuers tightening lending, though an international expansion and new investment offering are expected to aid a return to growth later this year.
The San Francisco-based company, which makes most of its money from referrals of financial products, saw credit card revenue fall to $50 million from $61.3 million last year, according to a statement Thursday. Analysts had expected $49.3 million on average with high interest rates and delinquencies dampening loan issuance.
FAQs
The San Francisco-based company, which makes most of its money from referrals of financial products, saw credit card revenue fall to $50 million from $61.3 million last year, according to a statement Thursday.
How does NerdWallet generate revenue? ›
NerdWallet is an American personal finance company, founded in 2009 by Tim Chen and Jacob Gibson. It has a website and app that earns money by promoting financial products to its users.
Is NerdWallet profitable? ›
We strive to operate a sustainable and profitable business, and our focus remains on delivering long-term value.” Credit cards revenue of $61.3 million grew 36% year-over-year, reflecting growing brand awareness and increased consumer intent combined with our deep alignment with partners to deliver quality matches.
Why is NerdWallet stock down? ›
NerdWallet Q4 earnings
Per-share earnings flipped from a $0.12 profit a year ago to the aforementioned $0.03 loss in Q4 2023, and the $8 million decline in revenue seems to account for most of this loss.
What is the 50 30 20 rule in NerdWallet? ›
Our 50/30/20 calculator divides your take-home income into suggested spending in three categories: 50% of net pay for needs, 30% for wants and 20% for savings and debt repayment. Find out how this budgeting approach applies to your money. Monthly after-tax income. Do you know your “want” categories?
What's better than NerdWallet? ›
NerdWallet's alternatives and competitors. See how NerdWallet compares to similar products. NerdWallet's top competitors include SmartAsset, Pawlicy Advisor, and Frank. SmartAsset is a financial decision-making platform operating in the personal finance and investment advisory sectors.
Who is behind NerdWallet? ›
Meet Tim Chen, the co-founder and CEO of NerdWallet, a company transforming the way we navigate personal finance. Launched in 2009 with a mission to bring clarity to financial decisions, Tim has grown NerdWallet from a simple idea into a trusted resource that millions turn to each month.
What is the outlook for NerdWallet? ›
Average Price Target
Based on 6 Wall Street analysts offering 12 month price targets for NerdWallet, Inc. Class A in the last 3 months. The average price target is $17.00 with a high forecast of $22.00 and a low forecast of $14.00. The average price target represents a 31.48% change from the last price of $12.93.
What is the safety of NerdWallet? ›
We use industry-standard security controls, such as cryptography, to protect your personally identifying information. And our partners TransUnion and Plaid do the same.
How successful is NerdWallet? ›
“Although we did not meet our revenue or adjusted EBITDA outlook for Q4, we finished 2023 with $599 million in revenue—an 11% increase over the previous year,” said Lauren StClair , CFO of NerdWallet .
The San Francisco, California-based platform reported record average monthly users of 29 million for the quarter ended March 31, a surge which came as the platform reported a mixed quarter in the face of ongoing macroeconomic pressures.
What is the annual revenue of NerdWallet? ›
According to NerdWallet's latest financial reports the company's current revenue (TTM ) is $0.59 B. In 2023 the company made a revenue of $0.59 B an increase over the revenue in the year 2022 that were of $0.53 B. The revenue is the total amount of income that a company generates by the sale of goods or services.
Does NerdWallet get paid? ›
NerdWallet is entirely free for our account holders. So how do we make money? Our partners compensate us.
How is NerdWallet funded? ›
NerdWallet is funded by 13 investors. Raison Wealth and Employee Stock Option Fund are the most recent investors. NerdWallet has acquired 5 organizations. Their most recent acquisition was On the Barrelhead on Jun 23, 2022 .
What is the brand strategy of NerdWallet? ›
NerdWallet's topic clusters strategy helps the brand position itself as the go-to guide for investing, credit cards, loans, insurance, and six other topics. They create content at every stage of the sales funnel to satisfy the searcher's intent.
Does NerdWallet sell your info? ›
We may disclose information collected directly from you to unaffiliated third-party partners in connection with your use of specific aspects of the Services. Some examples include but are not limited to: When you request to prequalify for a third-party loan or credit card product on NerdWallet Services.
