Qudian (QD) releases Q4 online EPS, revenue beats

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Qudian (NYSE: QD) reported Q4 EPS of $ 0.39, in line with analysts’ estimate of $ 0.39. Revenue for the quarter was $ 109.4 million versus the consensus estimate of $ 96.34 million.

Fourth Quarter 2020 Financial Highlights:

  • Total revenue was RMB 713.6 million (USD 109.4 million), a decrease of 63.1% compared to the same period last year
  • Net profit increased 427.0% year over year to 673.9 million RMB (103.3 million USD), or 2.54 RMB (0.39 USD) per diluted ADS
  • Non-GAAP net income[3] increased 335.6% year over year to 683.5 million RMB (104.8 million USD), or 2.57 RMB (0.39 USD) per diluted ADS

“Despite the uncertainty associated with a pandemic and difficult market conditions, as well as an ever-changing regulatory environment, we were able to conclude 2020 with further improvements in the quality of our assets while remaining vigilant in our credit activities. cash flow, ”said Mr. Min Luo, Founder, President and CEO of Qudian. “During the fourth quarter of 2020, we maintained strict credit approval standards by focusing on borrowers with a strong credit profile. At the end of the fourth quarter, our overall failure rate D1[4] fell to around 11% from around 17% at the end of the third quarter, reflecting the effectiveness of our strategy. As 2021 unfolds, we will continue to prudently operate our cash lending business while simultaneously exploring new areas of growth.

“As 2020 has seen the impact of a weakened global economy and the complex dynamics of the online lending market, we have maintained rigorous credit risk assessments for new loans coming from our platform. At the same time, we remain committed to seeking new investment opportunities. cash reserves and a healthy financial position, our core strengths and strong fundamentals can strengthen the long-term viability of all of our businesses, ”said Ms. Sissi Zhu, vice president of investor relations at Qudian.

For earnings history and earnings data on Qudian (QD) Click here.

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