Reported Sunday, Qifu Technology Q1 2024 Adj EPS RMB7.58 Beats RMB7.16 Estimate, Sales RMB4.153B Miss RMB4.213B Estimate
Portfolio Pulse from Benzinga Newsdesk
Qifu Technology (NASDAQ:QFIN) reported Q1 2024 adjusted EPS of RMB7.58, beating the estimate of RMB7.16, and a 28.04% increase from last year. However, sales of RMB4.153 billion missed the estimate of RMB4.213 billion, though they increased by 15.39% year-over-year.
May 20, 2024 | 4:49 am
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POSITIVE IMPACT
Qifu Technology's Q1 2024 earnings per share beat estimates, showing strong profitability growth. However, sales missed expectations, which may cause mixed reactions in the market.
The beat on EPS indicates strong profitability, which is positive for the stock. However, the miss on sales might temper investor enthusiasm. Overall, the positive earnings surprise is likely to have a more significant impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100