Enova International down after Q3 profit slumps

Enova International

24/10/2023 23:11

** Shares of online financial services provider Enova
International  ENVA.N  down ~9% at $40.23 in extended trading
    ** Co's Q3 net income falls to $41.29 mln from $51.71 mln a
year ago
    ** Q3 net revenue margin of 58% versus 64% last year 
    ** Co says marketing spend was "slightly elevated" compared
to its expectations in the quarter - conference call
    ** Adds, charge-offs from higher-than-expected credit
default and vintages in H2 2022 were at their peak in Q3,
driving lower-than-expected profitability in the quarter
    ** Up to last close, stock up 15% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))