Categories Earnings, Finance

Qudian (NYSE: QD) Q4 2019 Earnings Snapshot

— 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.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

360 DigiTech (NASDAQ: QFIN) Q3 2021 Research Summary

The positive effects of widespread digitalization and e-commerce growth on China’s financial services industry became more pronounced during the pandemic as the movement restrictions drove more retail customers to online

Activision Blizzard (ATVI): Three reasons why this stock deserves to be on your radar

Shares of Activision Blizzard Inc. (NASDAQ: ATVI) were up 1.6% on Thursday. The stock has dropped 14% since the start of the year. The company has been in the news

IPO Alert: Here’s all you need to know about Remitly Global’s upcoming market debut

The emergence of technology-driven financial services is making people think beyond conventional banks when it comes to availing loans and transferring funds. In a move aimed at taking its business

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top