OneConnect Financial Technology First Quarter 2024 Earnings: CN¥0.046 loss per share (vs CN¥0.10 loss in 1Q 2023)

OneConnect Financial Technology (HKG:6638) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥723.3m (down 22% from 1Q 2023).
• Net loss: CN¥53.7m (loss narrowed by 51% from 1Q 2023).
• CN¥0.046 loss per share (improved from CN¥0.10 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

OneConnect Financial Technology Earnings Insights

Looking ahead, revenue is expected to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Software industry in Hong Kong are expected to grow by 18%.

Performance of the Hong Kong Software industry.

The company's shares are up 8.8% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for OneConnect Financial Technology that we have uncovered.

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