OneConnect Financial Technology Third Quarter 2024 Earnings: CN¥0.03 loss per share (vs CN¥0.083 loss in 3Q 2023)

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

Key Financial Results

• Revenue: CN¥417.1m (down 51% from 3Q 2023).
• Net loss: CN¥29.5m (loss narrowed by 68% from 3Q 2023).
• CN¥0.03 loss per share (improved from CN¥0.083 loss in 3Q 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 6.0% p.a. on average during the next 3 years, while revenues in the Software industry in Hong Kong are expected to grow by 20%.

Performance of the Hong Kong Software industry.

The company's shares are down 11% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for OneConnect Financial Technology you should be aware of, and 1 of them shouldn't be ignored.

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