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Figure Technology Shares Jump 12% on Loan Volume Outlook

Figure Technology Solutions shares rose 12% to $27.12 on Thursday after the blockchain fintech forecast fourth-quarter loan marketplace volume above analysts’ expectations. The gain came despite a steep annual decline: the stock remains down 38% this year.

Figure Technology Shares Jump 12% on Loan Volume Outlook

The company expects loan marketplace volume of $6.2 billion to $6.7 billion in the current fourth quarter. Analysts had projected $5.62 billion, according to FactSet.

Figure also exceeded consensus estimates in the third quarter. Revenue climbed 84% to $287 million, compared with analysts’ expectation of $253.5 million. Loan marketplace volume more than doubled to $5.8 billion, above the $5.25 billion analysts had anticipated.

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