Qifu Technology First Quarter 2024 Earnings: EPS: CN¥7.46 (vs CN¥5.79 in 1Q 2023)

Qifu Technology (NASDAQ:QFIN) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥4.15b (up 15% from 1Q 2023).
• Net income: CN¥1.16b (up 25% from 1Q 2023).
• Profit margin: 28% (up from 26% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥7.46 (up from CN¥5.79 in 1Q 2023).

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

Qifu Technology Earnings Insights

Looking ahead, revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in the US.

Performance of the American Consumer Finance industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

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

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.