FX.co ★ Qudian Turns To Profit In Q3 With Higher Revenues; Stock Up In Pre-market

Qudian Inc. (QD), a technology company that focuses on consumer-oriented services, reported a profit for its third fiscal quarter, marking a turnaround from the loss recorded in the same period last year. This positive shift is credited to improved outcomes in the company's last-mile delivery operations.

During the third quarter, net income attributable to shareholders rose to RMB 131.92 million (approximately $18.8 million), contrasting with a loss of RMB 181.23 million incurred in the previous year.

Net income per American Depositary Share (ADS) reached RMB 0.71 ($0.10), compared to a loss of RMB 0.84 per share in the corresponding quarter of the prior year.

On an adjusted basis, last year's net loss was RMB 179.78 million, or RMB 0.84 per ADS.

Total revenue saw an 85.9 percent increase, climbing to RMB 55.0 million ($7.84 million) from RMB 29.6 million during the same period of the previous year.

The company remains committed to its business transition strategy, with a strong focus on prudent cash management to maintain financial stability.

On Thursday, QD shares closed with a 2.02% increase at $2.43 on the New York Stock Exchange. In pre-market trading, the stock is currently at $2.50, reflecting a 2.88% rise.