Lexinfintech Holdings (LX) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
LexinFintech Holdings Ltd., a prominent fintech service provider in China, reported a 12% sequential growth in net profit for Q2 2024 despite a 12% drop in loan origination volume. The company experienced a strong year-over-year operating revenue increase of 19.1%, attributed to improved risk performance, lower funding costs, and a boost from its overseas expansion. Lexin remains optimistic about future growth and has announced a dividend payout representing 20% of its net income for the first half of 2024.
For further insights into LX stock, check out TipRanks’ Stock Analysis page.