Yirendai Ltd – ADR (YRD) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.24. The company posted revenue of $110.40 million in the period, compared to analysts expectations of $97.01 million. The company’s revenue was up 10.4% compared to the same quarter last year.
Yirendai Ltd. is engaged in providing an online consumer finance marketplace in China connecting investors and individual borrowers. The Company’s online platform automates various aspects of its operations and enables the Company to match borrowers with investors and execute loan transactions. Its borrowers and investors come from a range of channels including online sources such as the Internet and its mobile applications as well as offline sources such as referrals from its parent company CreditEase Holdings (Cayman) Limited’s on-the-ground sales network. It focuses on prime borrowers comprising credit card holders with stable credit performance and salary income. All of the loans facilitated through its marketplace feature fixed interest rates. It also offers investors a risk reserve fund service for limiting losses to investors from borrower defaults. Its online marketplace facilitates standard loan products express loan products and vertical loan products to borrowers.