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BEIJING - Yiren Digital Ltd. (NYSE:YRD) reported fourth quarter 2024 results that fell short of analyst estimates, sending shares down 2.4% in premarket trading on Wednesday.
The AI-powered financial services platform posted revenue of RMB1.45 billion ($199.0 million) for the quarter, up 14% year-over-year but below the consensus estimate. Adjusted earnings per ADS came in at RMB3.82 ($0.52).
For the full year 2024, Yiren Digital’s revenue rose 19% to RMB5.81 billion ($795.4 million). However, net income declined to RMB1.58 billion ($216.8 million) from RMB2.08 billion in 2023.
"We closed out the year on a strong note, delivering another solid quarter of results that were in line with our previous guidance," said CEO Ning Tang. He highlighted the company’s success in upgrading customer segments, advancing AI systems, and achieving profitability in international operations.
Looking ahead, Yiren Digital projects fiscal 2025 revenue between RMB5.5 billion and RMB6.5 billion. The midpoint of this guidance range implies relatively flat growth compared to 2024 results.
The company also announced a cash dividend of $0.22 per ADS for the second half of 2024, representing a payout ratio of approximately 20%.
While Yiren Digital emphasized its technological advancements and strategic initiatives, investors appeared focused on the revenue miss and conservative outlook, as reflected in the stock’s after-hours decline.
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