CORRECTION: OneConnect Financial Tech Q1 GAAP EPADS $(0.21) Up From $(0.44) YoY, Sales $100.83M Down From $135.33M YoY
Portfolio Pulse from Benzinga Newsdesk
OneConnect Financial Tech (NYSE:OCFT) reported a Q1 GAAP EPADS loss of $(0.21), an improvement from $(0.44) YoY. However, sales decreased by 25.50% to $100.83M from $135.33M YoY.
May 21, 2024 | 11:44 am
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OneConnect Financial Tech reported a Q1 GAAP EPADS loss of $(0.21), an improvement from $(0.44) YoY. However, sales decreased by 25.50% to $100.83M from $135.33M YoY.
While the improvement in EPADS is a positive sign, the significant drop in sales is a concern. This mixed result is likely to have a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100