PPDAI Group Inc. (PPDF) Tops Q3 EPS by 11c, Revenues Beat

PPDAI Group Inc. (NYSE: PPDF) reported Q3 EPS of $0.30, $0.11 better than the analyst estimate of $0.19. Revenue for the quarter came in at $160.8 million versus the consensus estimate of $120.68 million.

• Net profit increased by 20.0% to RMB649.5 million (US$94.6 million) in the third quarter of 2018 from RMB541.4 million in the same period of 2017.
• Operating revenues decreased by 11.7% to RMB1,104.3 million (US$160.8 million) in the third quarter of 2018 from RMB1,250.3 million in the same period of 2017.
• Loan facilitation service fees decreased by 22.0% to RMB707.7 million (US$103.0 million) in the third quarter of 2018 from RMB906.9 million in the same period of 2017.
• Post-facilitation service fees increased by 19.9% to RMB239.9 million (US$34.9 million) in the third quarter of 2018 from RMB200.1 million in the same period of 2017.
• Strong liquidity position of RMB3,489.2 million (US$508.0 million) including cash, cash equivalents and short-term investments.
• High quality assurance fund coverage ratio of 18.8% for outstanding loan balances that are protected by the fund.

Mr. Jun Zhang, the Chairman and a Co-Chief Executive Officer of PPDAI, commented, "We are pleased to report solid financial results for the third quarter of 2018 despite the headwinds faced by the market. While the industry continues to experience significant change and consolidation, our core business remains resilient and we continue to benefit from market share gains."

For earnings history and earnings-related data on PPDAI Group Inc. (PPDF) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Cisco rating cut at HSBC as analyst sees a lack of catalysts
• Reading (RDI) Tops Q2 EPS by 4c