QFIN - Forget About Growth. Qifu Shows It's All About Giving Back To Shareholders
2024-03-20 09:00:00 ET
Summary
- Qifu’s revenue grew 13% year-on-year in the fourth quarter, and its net profit rose by more than 20%.
- The company announced plans to repurchase up to $350 million worth of its shares, far more than the $132 million in repurchased from last June to March this year.
- Investors cheered Qifu’s growing focus on returning money to them, bidding up the company’s shares by more than 10% following the release of its latest results.
In reporting its earnings for the fourth quarter of 2023, the online loan facilitator unveiled a plan to sharply ramp up its share buyback program. ...
Forget About Growth. Qifu Shows It's All About Giving Back To Shareholders