LexinFintech Holdings Ltd. (LX) said after close Wednesday that it earned $0.24 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $378.2 million, beating estimates by $43 million.
In the same quarter a year ago, the company earned $0.48 per share on revenue of $460.7 million.
The stock is up 21.66% to $1.96 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
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 48. Meanwhile, the average Wall Street analyst rated the stock a Hold.
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.
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LexinFintech Holdings Ltd. Up 21.66% To $1.96 After Earnings Miss
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