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Lufax Holding Ltd ADR Down 4.77% To $4.29 After Earnings Miss

Friday, August 05, 2022 03:18 PM | InvestorsObserver Analysts
Lufax Holding Ltd ADR Down 4.77% To $4.29 After Earnings Miss

Lufax Holding Ltd ADR (LU) said after close Thursday that it earned $0.18 per share in quarter two 2022.

On the revenue line, the company reported $2.3 billion, missing estimates by $78 million.

In the same quarter a year ago, the company earned $0.29 per share on revenue of $2.3 billion.

The stock is down 4.77% to $4.29 after the report.

Lufax Holding Ltd ADR's profit margins took a hit as earnings fell at a faster pace than revenues.

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

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

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Lufax Holding Ltd is a technology-empowered personal financial services platform in China. The company address the large unmet demand for personal lending among small business owners as well as salaried workers in China and provides tailor-made wealth management solutions to China's middle class and affluent population. Its platform has two hubs namely Retail Credit Facilitation Hub and Wealth Management Hub.

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