LexinFintech (LX, Financial) experienced a significant increase in its stock price, surging by 13.24% to $3.85. The company’s shares have risen over 150% from their lowest point. This upward trend is primarily driven by optimistic performance expectations for the latter half of the year, valuation recovery, and anticipation of the upcoming Q3 earnings announcement.
In Q2 2024, LexinFintech reported revenue of 3.64 billion RMB, marking a 12.3% increase compared to the previous quarter. The net profit attributable to shareholders grew by 12.4% to 227 million RMB. The market holds a positive outlook for the Q3 results, which are expected to be released in November.
