Qudian Trades Higher On Q2 Earnings Beat

Qudian QD reported second-quarter earnings of 59 cents per share, which beat the analyst consensus estimate of 48 cents by 22.92%. This is a 73.53% increase over earnings of 34 cents per share from the same period last year.

The company reported quarterly sales of $323.5 million, which beat the analyst consensus estimate of $278.37 million by 16.21%. This is a 4.59% decrease over sales of $339.069 million the same period last year.

At the end of the second quarter, the company’s registered user base grew to 76 million and total borrowers reached 6.1 million.

"In the second-quarter we achieved new records in net income and borrower numbers and made great progress on our open-platform initiative," said CEO Min Luo. "Leveraging our self-developed credit big-data and transaction clearing technologies, we are able to provide large scale credit assessment and high-speed precision processing via an efficient and reliable to-consumer interface for more than 100 licensed financial service providers to serve the underpenetrated consumption credit market in China.”

Qudian shares were trading up 5.87% at $9.20 in Friday’s pre-market session. The stock has a 52-week high of $9.20 and a 52-week low of $4.

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