Categories AlphaGraphs, Earnings, Finance
360 DigiTech (QFIN) Q1 earnings surge as revenues increase 13%
360 DigiTech, Inc. (NASDAQ: QFIN) said its earnings rose sharply in the first quarter of 2021, aided by a 13% revenue growth. The company’s stock closed Thursday’s trading session higher.
Revenues of the online consumer finance company moved up 13.1% to RMB3.6 billion ($549.3 million) in the three months ended March 2021. A 12% decrease in Credit Driven Services was more than offset by a 208% surge in Platform Services revenue.
Net income was RMB1.35 billion ($205.7 million) or RMB8.44 per ADS ($1.28 per ADS) in the first quarter, up from last year’s RMB183.4 million or RMB1.22 per ADS. Adjusted profit jumped to RMB8.81 per ADS ($1.34 per ADS).
“We are very pleased to report a great quarter that exceeded our expectations across multiple fronts of operations. During the quarter, financial institutions originated record-setting RMB74.1 billion loans, up 40% year-on-year. More importantly, we made significant progress in technology-driven strategic transition and upgrading,” said Haisheng Wu, chief executive officer of 360 DigiTech.
Read management/analysts’ comments on 360 DigiTech’s Q1 results
Shares of 360 DigiTech closed Thursday’s regular trading up 3% at the Nasdaq Stock Exchange but declined during the extended session following the earnings release.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
