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Why LexinFintech Holdings Is Tumbling Today
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LexinFintech Holdings Ltd Appoints Chief Risk Officer
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Author Bio
Bram Berkowitz mainly writes in the financials bureau covering the banking sector. Prior to The Motley Fool, he wrote about and covered community and regional banks in New England for The Warren Group. Follow @BramBerko
What happened
Shares of the Chinese consumer finance company
LexinFintech Holdings Ltd-ADR (NASDAQ:LX) had jumped 20% at 10:30 a.m. EST, after the company reported earnings results for the first quarter of this year.
So what
LexinFintech reported earnings per share (EPS) of $0.53 in American depositary shares (ADS), equity shares of a foreign company held by an American bank and available for U.S. investors to purchase. That beat analysts earnings estimates of $0.28 ADS soundly. Total revenue of roughly $449 million reportedly missed estimates by more than $30 million. Earnings also are up from a loss of $0.58 ADS in the first quarter of 2020.
Author Bio
Dave mainly covers financial stocks, primarily banks and asset managers, and investment planning. He s covered mutual funds and institutional investments for Pensions & Investments, personal finance for S&P, and money markets and bonds for Crane Data. Dave has been a Fool since 2014. Follow @dhkovaleski
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