Noah Holdings Ltd ADR Up 17.49% To $11.89 After Earnings

Noah Holdings Ltd ADR (NOAH) said after close Tuesday that it earned $0.47 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 $112.6 million in revenue

In the same quarter a year ago, the company earned $0.31 per share on revenue of $127.9 million.

The stock is up 17.49% to $11.89 after the report.

Despite Noah Holdings Ltd ADR reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Strong 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 28. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Noah Holdings Ltd is a wealth management service provider. It focuses on global wealth investment and asset allocation services for high-net-worth individuals and enterprises in China. The company operates through three segments: wealth management, asset management, and other business. Its product offerings consist primarily of over-the-counter wealth management and OTC asset management products and mutual fund products. The portfolio of the group mostly includes fixed income products, private equity funds and securities investment funds. Most of the firm revenue is generated through one-time commissions and recurring service fees paid by third-party product providers.