Lexinfintech Holdings Ltd ADR Down 6.78% To $2.14 After Earnings

Lexinfintech Holdings Ltd ADR (LX) said after close Wednesday that it earned $0.23 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $494.3 million in revenue

In the same quarter a year ago, the company earned $0.3 per share on revenue of $442.2 million.

The stock is down 6.78% to $2.14 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 21. Meanwhile, the average Wall Street analyst rated the stock a Buy.

LexinFintech Holdings Ltd is an online consumer finance platform and a technology-driven service provider in China. The group is engaged primarily in online direct sales services and online consumer financial services for its customers in China. It offers online direct sales with installment payment terms and offers installment purchase loans and personal installment loans mainly through its retail and online consumer finance platform www.fenqile.com, and its mobile application to young adults between the age of 18 and 36 in the People's Republic of China. The company also finances the loans with proceeds from partnering peer-to-peer lending platforms, commercial banks, and other financial institutions. Geographically, it derives revenue from China.