Qifu Technology Non-GAAP EPADS of $1.05, revenue of $575.2M; initiates Q2 outlook
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4 months ago
- Qifu Technology press release (NASDAQ:QFIN): Q1 Non-GAAP EPADS of $1.05.
- Revenue of $575.2M (+15.39% Y/Y).
- As of March 31, 2024, our platform has connected 159 financial institutional partners and 241.4 million consumers with potential credit needs, cumulatively, an increase of 12.5% from 214.5 million a year ago.
- Cumulative users with approved credit lines were 52.3 million as of March 31, 2024, an increase of 13.8% from 46.0 million as of March 31, 2023.
- Cumulative borrowers with successful drawdown, including repeat borrowers, were 31.2 million as of March 31, 2024, an increase of 12.6% from 27.7 million as of March 31, 2023.
- 90 day+ delinquency rate of loans originated by financial institutions across our platform was 3.35% as of March 31, 2024.
- Outlook: For the second quarter of 2024, the company expects to generate a net income between RMB1.17 billion and RMB1.23 billion, representing a year-on-year growth between 7.0% and 12.5% and a non-GAAP net income between RMB1.22 billion and RMB1.28 billion, representing a year-on-year growth between 6.4% and 11.6%.