Qudian Turns To Profit In Q3 With Higher Revenues; Stock Up In Pre-market

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(RTTNews) - Qudian Inc. (QD), a consumer-oriented technology company, announced a profit for its third quarter, compared to prior year's loss, benefited by improved performance in last-mile delivery business.

For the third quarter, the net income attributable to the shareholders increased to RMB 131.92 million or $18.8 million, compared with a loss of RMB 181.23 million in the previous year.

The net income per ADS was RMB 0.71 or $0.10, compared to a loss of RMB 0.84 per share in the previous year's quarter.

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

The total revenue increased 85.9 percent to RMB 55.0 million or $7.84 million from RMB 29.6 million for the same period of last year.

The company plans to stay focused on its business transition while carefully managing its cash to protect its financial stability.

Thursday, QD had closed 2.02% higher at $2.43 on the New York Stock Exchange.

In the pre-market, QD is now trading at $2.50, up 2.88%.