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OneConnect Financial Technology (OCFT)
NYSE:OCFT
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 05, 2020
|% Change Since: 14.40%
|Next Earnings Date:Feb 18, 2020
Earnings Call Sentiment|Neutral
The earnings call presents a mixed picture. While there are significant achievements in reducing net loss and growing overseas revenue, there are also considerable challenges, particularly the sharp decline in overall revenue and gross margin. The sentiment leans towards a cautious optimism due to achievements despite the setbacks.Company Guidance
During OneConnect's Q3 2024 earnings call, the company provided several metrics indicating its financial performance and strategic focus. The company's net loss from continuing operations attributable to shareholders improved to RMB 30 million, marking a 41.9% reduction from RMB 51 million in the same period last year. Revenue decreased by 48.3% year-over-year to RMB 417 million, primarily due to the strategic phase-out of its cloud service business. However, revenue from third-party overseas customers grew by 23.4% in the first nine months, highlighting strong international expansion. Gross margin decreased to 32.7% from 36.6% in the prior year, attributed to reduced economies of scale. Additionally, R&D expenses dropped significantly to RMB 70 million from RMB 230 million, reflecting a focus on optimizing business structure and managing projects with a return on investment-driven approach. The company emphasized ongoing efforts to enhance product offerings, focus on cost control, and expand overseas markets to achieve midterm profitability.Significant Reduction in Net Loss
Net loss from continuing operations attributable to shareholders improved to RMB 30 million from RMB 51 million in the same period last year, a significant year-on-year decrease of 41.9%.
Overseas Revenue Growth
Revenue from third-party overseas customers increased by 23.4% year-on-year in the first 9 months of 2024.
Recognition and Awards
In the third quarter of 2024, OneConnect won 4 awards from third-party institutions and renowned media outlets, totaling 318 awards, which reflects social and industry recognition of their products and technical strength.
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OCFT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OCFT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $2.50 | $2.34 | -6.40% |
| Aug 16, 2024 | $1.56 | $1.49 | -4.49% |
| May 21, 2024 | $2.26 | $2.32 | +2.65% |
| Mar 18, 2024 | $2.41 | $2.33 | -3.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does OneConnect Financial Technology (OCFT) report earnings?
OneConnect Financial Technology (OCFT) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is OneConnect Financial Technology (OCFT) earnings time?
OneConnect Financial Technology (OCFT) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OCFT EPS forecast?
Currently, no data Available
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