QFIN - 360 DigiTech slides after missing Q1 topline estimates issues guidance

360 DigiTech ([[QFIN]] -5.2%) after reporting Q1 Revenue of $549.35M rose by 22.21% from the same period last year, which missed the estimate of $556.81M.Net income increased by 635.4% Y/Y to $205.6M; Non-GAAP net income increased by 452.8% Y/Y to $214.7M; Non-GAAP EPADS of $1.34; GAAP EPADS of $1.28.Operating margin was 43.3%. Non-GAAP operating margin was 44.9%.Net income margin was 37.4%. Non-GAAP net income margin was 39.1%.In the first quarter of 2021, financial institutional partners originated 23,347,135 loans, representing an increase of 40.4%.As of March 31, 2021, the digital platform has connected 105 financial institutional partners and 169.1M consumers with potential credit needs, cumulatively, an increase of 19.4% from 141.6M a year ago.As of March 31, 2021 the embedded finance model gained further popularity among the business partners with 17 leading traffic platforms on board, contributing over 35% of new customer acquisition.90 day+ delinquency ratio of loans originated by financial institutions across the platform was 1.29%

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360 DigiTech slides after missing Q1 topline estimates, issues guidance