Qudian (NYSE: QD) reported Q2 EPS of $0.34, $0.08 better than the analyst estimate of $0.26. Revenue for the quarter came in at $339.1 million, may not compare to the consensus estimate of $433.75 million.

Outlook:

For the full year of 2018, the Company reaffirms its expectation for non-GAAP net income to be over RMB2.5 billion. Meanwhile, for the Dabai Auto business, the Company expects the number of vehicles sold during the full year 2018 to be between 25,000-30,000, down from the previous guidance of 100,000, as the Company focuses on profitability.

The above outlook is based on the current market conditions and reflects the Company's preliminary estimates of regulatory, market and operating conditions, and customer demand, which are all subject to change.

Update on Company's User Engagement

The Company's agreement with Ant Financial relating to user engagement through Alipay's dedicated channel for online third-party service providers expires in August 2018, and the parties have decided not to renew the agreement. The Company has primarily engaged users through its own mobile apps since the first quarter of 2018, and it does not expect the non-renewal to have a material impact on the Company's current business.

For earnings history and earnings-related data on Qudian (QD) click here.