Qifu Stock In Focus After Q4 Earnings Jump, Retail Chatter Leans Bullish

Qifu Technology (QFIN) stock garnered retail attention on Monday after the company reported a 72% rise in quarterly earnings.

On Saturday, the personal credit firm posted a net income of 1.91 billion yuan ($262 million), or 13.24 yuan per American depository share for the three months ended Dec. 31, compared to 1.11 billion yuan, or 6.88 yuan in the year-ago quarter.

The China-based company’s fourth quarter net revenue rose to 4.48 billion yuan from 4.37 billion yuan in the previous quarter.

As of Dec. 31, the company said it had a cumulative 261.2 million consumers with potential credit needs, an 11% rise from 235.4 million a year ago.

Qifu added that during the fourth quarter, its total facilitation and origination loan volume reached 89.9 billion, an increase of 0.4% from 89.56 billion a year earlier.

Then net revenue from platform services was 1.59 billion yuan, compared to 1.25 billion yuan in the same period last year.

However, the firm’s net revenue from credit-driven services fell to 2.89 billion from 3.25 billion.

“While we started to see some tentative signs of improvement in user activities late in 2024, we will continue to take a prudent approach in our business planning in 2025,” said Haisheng Wu.

Qifu said it expects to generate a net income between 1.75 billion yuan and 1.85 billion yuan during the first quarter of 2025.

The Shanghai-based company also raised its semi-annual dividend to $0.70 per ADS.

Retail sentiment on Stocktwits, however, moved to the ‘neutral’ (49/100) territory on Friday from ‘bullish’(64/100) a day ago, while message volume was ‘high’ ahead of the earnings.

Retail traders expressed joy over the earnings and the dividend raise.

Over the past year, Qifu stock has more than doubled.

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