Qifu Technology (QFIN) to Report Q1 Earnings: What to Expect?

Qifu Technology, Inc. QFIN will report its first-quarter 2024 results on May 20, before the bell.

The company’s earnings surprise history has not been impressive. Earnings missed the Zacks Consensus Estimate twice, surpassed once and matched once in the trailing four quarters, delivering a negative earnings surprise of 5.4%, on average.

Qifu Technology, Inc. Price and EPS Surprise Qifu Technology, Inc. Price and EPS Surprise

Qifu Technology, Inc. price-eps-surprise | Qifu Technology, Inc. Quote

Expectations This Time Around

The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $598.9 million, indicating an increase of 14.3% from the year-ago quarter’s reported figure.

The top line is expected to have benefited from strong demand for consumer credit and growth in loan facilitation and origination volume under its capital-light model. Net revenues from Credit Driven Services, and net revenues from Platform services are anticipated to have increased year over year in the quarter.

The consensus mark for the bottom line is pegged at $1.08 per share, indicating 31.7% year-over-year growth. The bottom line is expected to have benefited from strong operating performance.

What Our Model Says

Our proven Zacks model does not conclusively predict an earnings beat for QFIN this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Qifu Technology has an Earnings ESP of 0.00% and currently carries a Zacks Rank #2.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Earnings Snapshots of Some Service Providers

Omnicom OMC reported impressive first-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.

OMC’s earnings of $1.67 per share beat the consensus estimate by 9.9% and increased 7.1% year over year. Total revenues of $3.6 billion surpassed the consensus estimate by 1.6% and increased 5.4% year over year.

Equifax EFX reported mixed first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, but revenues missed the same.

EFX’s adjusted earnings were $1.5 per share, which beat the Zacks Consensus Estimate by 4.2% and up 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.

ManpowerGroup MAN reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.

Quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year. Revenues of $4.4 billion lagged the consensus mark by 0.6% and fell 7% year over year.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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