QD - Qudian slips after Q3 earnings and revenue miss swings to a quarterly loss

Qudian (QD -18.9%) slides after Q3 earnings come in well short of expectations, revenue of $53.9M down 59.1% Y/Y misses by $1.12M. Net loss was $14.6M, compared to an income of RMB592.3 million from the same period of last year, or net loss of $0.06 per diluted ADS. Non-GAAP net loss was $15.4M, compared to an income of RMB576.4M from the same period of last year, or non-GAAP net loss of $0.06 per diluted ADS. Financing income totaled $44.3M, representing a decrease of 41.4% from RMB487.3 million for the third quarter of 2020, as a result of the decrease in the average on-balance sheet loan balance. Loan facilitation income and other related income decreased by 95.0% to $1.4M from RMB177.2 million for the third quarter of 2020, as a result of the reduction in transaction volume of off-balance sheet loans during this quarter.  Transaction services fee and other related income increased to $3.3M from RMB6.6 million for

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Qudian slips after Q3 earnings and revenue miss, swings to a quarterly loss