JFIN - Why Shares of Jiayin Group Are Up Today
Shares of the Chinese fintech platform Jiayin Group (NASDAQ: JFIN) were nearly 17% higher as of 11:20 a.m. EDT after the company posted earnings results for the second quarter of this year.
Jiayin Group posted earnings per share equivalent to $0.09, or net income of $19.6 million, on total revenue of $76.2 million. EPS and revenue in the second quarter both doubled from the second quarter of 2020.
Meanwhile, loan origination in the quarter grew more than 150% from the second quarter of 2020, while most delinquency rates on loans continued to decline and trend favorably.
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Why Shares of Jiayin Group Are Up Today