FINV.US

Online lender FinVolution Group (FINV.US) said on Monday its revenue rose 2.5% in the third quarter to 3.28 billion yuan ($453 million) year-on-year, as weakness in its home China market was offset by strong gains for its international business. The company also reported its net profit rose 10% to 624 million yuan from 566 million yuan a year earlier.

The company’s transaction volume for its core China operation rose 0.8% to 49.5 billion yuan, while its number of unique borrowers fell 13% to 2 million. The transaction volume for its international business rose by a faster 22.7% to 2.7 billion yuan, while its number of unique international borrowers rose 50.5% to 1.4 million.

Revenue from the company’s international business rose 8.7% year-on-year during the quarter to 636 million yuan, lifting international revenue to nearly one-fifth of the company’s total. FinVolution shares rose 7.5% in after-hours trading on Monday after it announced the results.

To subscribe to Bamboo Works weekly free newsletter, click here

Recent Articles

Autohome is an auto trading platform

Autohome deflated by plunging ad sales, car price wars

The car-trading services provider reported a fourth consecutive quarter of revenue decline in the second quarter, as its gross margin plunged more than 10 percentage points Key Takeaways: Autohome’s revenue…