— Qudian (NYSE: QD) reported a decrease in non-GAAP and GAAP earnings for the fourth quarter of 2019.
— Non-GAAP net income attributable to Qudian’s shareholders decreased by 79.9% to $22.5 million or $0.08 per diluted ADS.
— On a GAAP basis, net income attributable to Qudian’s shareholders decreased by 83.3% to $18.4 million or $0.07 per diluted ADS.
— Revenues rose 7% year-over-year to $277.5 million.
— Qudian expects the reduced origination volume combined with higher provisions for receivables and losses on guarantee and risk assurance liabilities to generate a material loss in the first quarter of 2020.
— CEO Min Luo said, “Looking at the near term, although the impact of the COVID-19 outbreak on the economy is still unclear, we expect the epidemic to exacerbate the already existing challenges in the consumer credit sector.”
— QD stock, which slumped 64% so far this year on NYSE, dropped more than 10% in the pre-market trading session today.
Most Popular
MS Earnings: Morgan Stanley Q1 2025 revenue and earnings beat estimates
Morgan Stanley (NYSE: MS) on Friday reported higher revenues and net profit for the first quarter of 2025. The latest numbers also exceeded analysts’ estimates. The company reported net revenues
WFC Earnings: Key quarterly highlights from Wells Fargo’s Q1 2025 financial results
Wells Fargo & Company (NYSE: WFC) reported its first quarter 2025 earnings results today. Total revenue decreased 3% year-over-year to $20.15 billion. Net income grew 6% to $4.89 billion and
JPM Earnings: All you need to know about JPMorgan’s Q1 2025 earnings results
JPMorgan Chase & Co. (NYSE: JPM) reported its first quarter 2025 earnings results today. Reported net revenue increased 8% year-over-year to $45.3 billion. Managed net revenue was $46 billion, also
