Newsletter

Menu

Qudian (NYSE: QD) Q3 profit jumps 53%, meets estimates

By Staff Correspondent |
Earnings Update by AlphaStreet

Qudian Inc. (NYSE: QD) reported a 53% jump in earnings for the third quarter of 2019 helped by higher revenues despite the overall industry credit deterioration. The bottom line came in line with the analysts’ expectations while the top line exceeded consensus estimates.

Net income soared by 53% to $146 million or $0.46 per American Depository Shares (ADS). Adjusted earnings surged by 53% to $148.6 million or $0.47 per ADS. The overall industry credit deteriorated due to the macroeconomic environment and reduced liquidity as non-complaint players exit the credit market.

Read: Wix.com Q3 earnings snapshot

Total revenues jumped by 34.3% to $362.5 million primarily due to the ramp-up of the open-platform initiative. Loan facilitation income and other related income increased by 72.6% while financing income fell by 17% due to a decrease in the average on-balance sheet loan balance.

Transaction services fee and other related income, which relate to transaction services and traffic referral services provided by our open-platform, substantially increased to $139 million from nil for the same period last year.

The total number of registered users as of Sep 30, 2019, increased by 12% year-over-year to 78.3 million. On a sequential basis, the number of outstanding borrowers from loan book business and transaction services business rose by 3.4% to 6.3 million.

New active borrowers from loan book business and transaction services business for this quarter increased by 15.2% to 669,111 from 580,727 last year, as a result of incremental user growth driven by transaction services business.

Read: Cisco Systems Q1 earnings review

The company expects to continue a conservative approach on its risk-taking book into the final quarter of 2019 and thus revised its full-year guidance accordingly. The company now expects adjusted net income for the full year 2019 of RMB4 billion, which will represent about a 57% increase over a year ago. This was due to the recent strategy for the company to reduce the risk-taking loan balance and focus on higher-quality borrowers via open-platform.

In addition, Qudian announced the replacement of Lianzhu Lv from its board of directors by Long Xu, Qudian’s SVP. Xu joined Qudian in 2016 and has focused on key operations including products, human resources, and customer engagement.

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

Advertisement

More on this Company

162 responses to “Qudian (NYSE: QD) Q3 profit jumps 53%, meets estimates”

  8. benefits of masturbation

    […]we like to honor several other net internet sites on the web, even though they aren’t linked to us, by linking to them. Beneath are some webpages really worth checking out[…]

  16. learn more

    […]that would be the finish of this article. Here you will uncover some internet sites that we consider you will value, just click the hyperlinks over[…]

  20. CZ P10C FOR SALE

    […]although internet websites we backlink to beneath are considerably not associated to ours, we feel they are actually really worth a go via, so have a look[…]

  22. ps5 for sale

    […]Every when inside a though we select blogs that we study. Listed beneath would be the latest web pages that we pick out […]

  24. Nanaimo

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nevertheless actually worth taking a look, whoa did one discover about Mid East has got far more problerms at the same time […]

  31. Google

    […]always a major fan of linking to bloggers that I really like but do not get a great deal of link enjoy from[…]

  37. cryptocurrency virtual card

    […]we prefer to honor numerous other web internet sites around the net, even though they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  43. Platinum haupia

    […]we prefer to honor several other internet web sites on the net, even when they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  44. Bubblegum Haupia Strain

    […]although web-sites we backlink to below are considerably not associated to ours, we feel they’re truly really worth a go as a result of, so have a look[…]

  47. Litto

    […]please visit the web sites we comply with, like this 1, as it represents our picks through the web[…]

  48. Bubble hash

    […]Wonderful story, reckoned we could combine some unrelated data, nevertheless truly worth taking a search, whoa did 1 understand about Mid East has got more problerms as well […]

  87. …Visitor recommendations

    […] What host are you the use of? Can I am getting your associate link on your host? I desire my website loaded up as fast as yours lol[…]

  105. …Visitor recommendations

    […]I am no longer certain the place you’re getting your information, but great topic.[…]

  120. …Click here for or more Information

    […]The whole glance of your web site is fantastic, let well as the content![…]

  133. SCIT

    […]that would be the end of this write-up. Here you’ll discover some web pages that we believe you will value, just click the hyperlinks over[…]

Top