Stock Track | LexinFintech Holdings Soars 5% on Strong Q3 Earnings Despite Revenue Decline

Stock Track

2024-11-26

LexinFintech Holdings Ltd. (LX) saw its stock soar 5% in pre-market trading on Monday, following the company's release of its third quarter 2024 financial results. Despite reporting a 100% year-over-year decrease in sales to $521.85 million, LexinFintech posted better-than-expected earnings and profitability metrics.

The fintech company reported adjusted earnings per ADS of RMB1.98 (US$0.28) on a fully diluted basis for Q3 2024, driven by strong cost controls and operating efficiencies. LexinFintech's net income attributable to ordinary shareholders reached RMB309.56 million (US$44.11 million) during the quarter.

LexinFintech's earnings release highlighted its robust risk management capabilities and resilient business model, which enabled it to navigate the challenging macroeconomic environment while maintaining profitability. The company's non-GAAP EBIT reached RMB409.46 million (US$58.35 million) in Q3 2024, reflecting its commitment to operational efficiency and cost discipline.

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(LX) saw its stock soar 5% in pre-market trading on Monday, following the company's release of its third quarter 2024 financial results. Despite reporting a 100% year-over-year decrease in sales to $521.85 million, LexinFintech posted better-than-expected earnings and profitability metrics.</p>\n\n<p>The fintech company reported adjusted earnings per ADS of RMB1.98 (US$0.28) on a fully diluted basis for Q3 2024, driven by strong cost controls and operating efficiencies. LexinFintech's net income attributable to ordinary shareholders reached RMB309.56 million (US$44.11 million) during the quarter.</p>\n\n<p>LexinFintech's earnings release highlighted its robust risk management capabilities and resilient business model, which enabled it to navigate the challenging macroeconomic environment while maintaining profitability. 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