China Rapid Finance Limited (XRF) Reports In-Line Q2 EPS

China Rapid Finance Limited (NYSE: XRF) reported Q2 EPS of ($0.13), in-line with the analyst estimate of ($0.13).

• GAAP net loss was $10.6 million, narrowed by 22% from a net loss of $13.5 million in the second quarter of 2017. The improvements came despite the near-term impact from increased expenses associated with the reorganization.
• Non-GAAP adjusted loss before income tax expense was $8.7 million, as compared to $12.7 million in the second quarter of 2017. Compared to GAAP results, this loss excludes share-based compensation and reorganization costs.
• GAAP net loss attributable to ordinary shareholders was $10.6 million, as compared to a net loss of $96.4 million in the prior year period.
• GAAP EPS was ($0.16) per share, as compared to ($1.93) per share in the prior year period.
• Adjusted EPS was ($0.13) per share, as compared to ($0.26) per share in the prior year period. The decreased net loss per share was mainly due to improved monetization that drove robust growth of gross billings and net revenue, and improved efficiency that reduced operating expenses.

Commenting on the share repurchase, Dr. Wang said, "With this share repurchase authorization, our board is making a strong statement about our confidence in the future of XRF. We have more than enough cash to fund our current operations and expect to be operating profitably in the near future. The board and management team firmly believe that the Company's current stock market valuation reflects neither the untapped value of our established customer relationships and the business we have built, nor our prospects for future growth. Repurchasing shares now represents a rational use of cash for the benefit of all shareholders, and fits within our capital allocation strategy, which we believe is prudent and consistent with our commitment to build shareholder value."

For earnings history and earnings-related data on China Rapid Finance Limited (XRF) click here.

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