360 Finance Inc: Rises on upbeat Q3 results

Qfin Holdings

27/11/2019 17:31

** Shares of Chinese digital consumer finance platform
 QFIN.O  up 17% at $9.18 - set for best day in more than seven
months on strong quarterly results
    ** QFIN's total revenue doubles to 2.58 bln yuan  ($366.53
mln), while loan origination volume and users with approved
credit lines more than double in Q3  urn:newsml:reuters.com:*:nGNX9mzmHv
    ** Increase in loan originations provides us cushion against
industry headwinds down the road - CFO Jiang Wu
    ** Posts quarterly profit per share of 2.45 yuan, compared
with a loss of 12.71 yuan a year earlier
    ** Continues to see FY 2019 revenue of 8 billion yuan to 8.5
billion yuan, almost twice as much as FY 2018 revenue
 urn:newsml:reuters.com:*:nGNXyL4sn
    ** Including session's gain, stock down ~41% YTD


($1 = 7.0389 Chinese yuan renminbi)

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))