FINV - FinVolution expects transaction volume to climb 8% in Q2
2023-05-18 11:27:53 ET
FinVolution Group ( NYSE: FINV ) sees total transaction volume for Q2 rising 8% to around RMB 46.7B ($6.63B) from Q1, the Chinese fintech firm said earlier this week.
Q1 total transaction volume of RMB 43.4B fell 10.6% sequentially and advanced 9.3% from a year ago.
Q1 net profit per share of RMB 0.49 rose from RMB 0.38 in Q4 2022 and from RMB 0.36 in Q1 2022. Net revenue came in at RMB 3.05B, virtually unchanged from the previous quarter and up from RMB 2.45B in the year-earlier quarter.
FINV gained 1.5% in late morning trading.
Total outstanding loan balance was RMB 62.3B compared with RMB 64.6B in Q4 2022 and RMB 53.8B in Q1 2022.
Operating expenses totaled RMB 2.31B vs. RMB 2.43B in Q4 2022 and RMB 1.86B in Q1 of last year.
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FinVolution expects transaction volume to climb 8% in Q2