Qifu Technology (NASDAQ:QFIN) Third Quarter 2023 Results
Key Financial Results
- Revenue: CN¥4.28b (up 3.3% from 3Q 2022).
- Net income: CN¥1.14b (up 15% from 3Q 2022).
- Profit margin: 27% (up from 24% in 3Q 2022).
- EPS: CN¥7.12 (up from CN¥6.36 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Qifu Technology Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 115%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in the US.
Performance of the American Consumer Finance industry.
The company’s shares are up 9.8% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we’ve spotted 1 warning sign for Qifu Technology you should be aware of.
What are the risks and opportunities for Qifu Technology?
Qifu Technology, Inc., through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People’s Republic of China.
View Full Analysis
Rewards
-
Trading at 78.4% below our estimate of its fair value
-
Earnings are forecast to grow 16.87% per year
Risks
No risks detected for QFIN from our risks checks.
View all Risks and Rewards
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.