LexinFintech Holdings Ltd. (NASDAQ: LX) saw its stock plummet 5.02% in intraday trading, despite reporting a significant increase in first-quarter profits. The Chinese fintech company's mixed financial results for Q1 2025 appear to have left investors uncertain about its overall performance and growth prospects.
According to the company's latest financial report, LexinFintech's net income soared 18.6% quarter-over-quarter to RMB 430 million ($59.31 million). The adjusted earnings per ADS rose to RMB 2.62 ($0.36), a substantial increase from RMB 1.35 in the same period last year. However, this profit growth was overshadowed by a 15.2% quarter-over-quarter decline in revenue, which fell to RMB 3.10 billion ($427.76 million) from RMB 3.24 billion a year earlier.
The market's negative reaction seems to stem from concerns over LexinFintech's revenue decline and other mixed indicators. While the company saw an increase in its user base, with cumulative registered users reaching 232 million (up 2.0% quarter-over-quarter), it also reported a 2.7% decrease in loan balance and a slight 0.6% drop in loan originations. These factors, combined with a 5.5% rise in operating expenses, may have contributed to investor apprehension about the company's growth trajectory and profitability in the face of challenging market conditions.
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