QD - Qudian stock slips as Q1 financing income faces big hit

Qudian (NYSE:QD) shares are edging down 1.3% in Monday morning trading after the China-based consumer finance platforms' Q1 earnings disappointed investors, highlighted by a large Y/Y drop in financing income. Nevertheless, "we will continue implementing our share repurchase program," said CEO and Chairman Min Luo. Revenue of RMB201.8M ($31.8M) in Q1 dropped from RMB515.7M in Q1 of last year. Adjusted EPADS of -RMB0.56 (-$0.09) in Q1 vs. RMB1.81 in the year-ago period. Financing income was RMB177.9M in the first quarter compared with RMB361.8M in Q1 2021, driven by a decrease in the average on-balance sheet loan balance. Q1 operating expenses mounted to RMB285.5M from RMB63.3M in Q1 a year ago. Earlier, Qudian Non-GAAP EPADS of -$0.09, revenue of $31.84M.

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Qudian stock slips as Q1 financing income faces big hit