NASDAQ$QFIN
Qifu Technology Inc · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
Qfin Q3 net revenue slips 0.2% to RMB5.2B; net income down on macro and regulatory headwinds
Qfin Holdings reported unaudited Q3 2025 results with total net revenue of RMB5,205.7 million (US$731.2 million), roughly flat versus RMB5,215.9 million in Q2 2025 and down from RMB5,370.2 million in Q3 2024. Credit Driven Services revenue was RMB3,868.6 million and Platform Services revenue was RMB1,337.0 million. Income from operations was RMB1,700.1 million with a 32.7% operating margin; non-GAAP operating margin was 34.1%. Net income was RMB1,432.5 million (US$201.2 million) versus RMB1,798.8 million in Q3 2024, and non-GAAP net income was RMB1,508.2 million. Diluted EPS was RMB10.80 per ADS and non-GAAP diluted EPS was RMB11.36 per ADS. Loan facilitation volume was RMB83.3 billion with 22.5 million loans originated; outstanding loan balance was RMB138.1 billion and 90-day+ delinquency was 2.09%. Management cited macro uncertainty and regulatory changes as continuing headwinds on portfolio risk.
- Q3 total net revenue was RMB5,205.7 million, roughly flat sequentially; credit driven services contributed RMB3,868.6 million.
- Net income was RMB1,432.5 million; non-GAAP net income was RMB1,508.2 million with diluted EPS of RMB10.80 (RMB11.36 non-GAAP).
- Income from operations was RMB1,700.1 million; operating margin was 32.7% (34.1% non-GAAP).
- Loan facilitation volume was RMB83.3 billion; outstanding loan balance was RMB138.1 billion with 90-day+ delinquency at 2.09%.
- Platform connected 167 financial institutional partners and 283.7 million cumulative registered users as of September 30.
Headline financials
Revenue & EPS history
Qfin Holdings · Revenue · Quarterly
¥5.21B
Revenue by segment
Qfin Holdings · ¥6.12B total across 3 segments · Q3 2025
- Credit Driven Services¥3.87B—63.2%
- Platform Services¥1.34B—21.9%
- Revenue from releasing of guarantee liabilities¥913M—14.9%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+1.3%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.6%
Avg return
30 days after
47%
15 / 32 earnings
Positive
+24.9%
Q1 2026
Best reaction
-27.1%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +24.9% | +34.4% | — | |
| Q4 2025 | -6.2% | +0.7% | +15.6% | |
| Q3 2025 | -14.2% | -19.0% | -15.3% | |
| Q2 2025 | -4.0% | -10.9% | -14.8% | |
| Q1 2025 | -1.0% | -3.3% | -2.0% | |
| Q4 2024 | +9.1% | +3.9% | -15.4% | |
| Q3 2024 | +9.2% | +7.0% | +17.5% | |
| Q2 2024 | +14.5% | +16.0% | +18.8% | |
| Q1 2024 | -3.7% | -6.2% | -7.1% | |
| Q4 2023 | +20.8% | +20.5% | +31.6% | |
| Q3 2023 | +2.7% | +0.6% | -9.7% | |
| Q2 2023 | -1.9% | -1.0% | -4.8% | |
| Q1 2023 | -13.2% | -15.1% | -6.9% | |
| Q4 2022 | -10.8% | -11.9% | -3.3% | |
| Q3 2022 | +12.5% | -4.0% | +23.8% | |
| Q2 2022 | -0.9% | -4.7% | -6.0% | |
| Q1 2022 | -1.9% | +5.3% | +21.8% | |
| Q4 2021 | -27.1% | -33.9% | -21.1% | |
| Q3 2021 | +7.5% | -0.1% | -21.6% | |
| Q2 2021 | +10.3% | +21.6% | +17.8% | |
| Q1 2021 | -2.3% | +17.5% | +46.5% | |
| Q4 2020 | +0.8% | -2.0% | -23.0% | |
| Q3 2020 | +1.8% | +11.7% | -7.1% | |
| Q2 2020 | -3.8% | -16.1% | -20.4% | |
| Q1 2020 | +1.9% | -5.1% | +14.2% | |
| Q4 2019 | +0.4% | +9.5% | +19.1% | |
| Q3 2019 | +21.2% | +20.9% | +20.0% | |
| Q2 2019 | -5.6% | -10.9% | -7.8% | |
| Q1 2019 | +7.9% | -0.1% | -14.9% | |
| Q4 2017 | -3.5% | -4.6% | -21.6% | |
| Q4 2016 | -3.5% | -4.6% | -21.6% | |
| Q4 2018 | -0.5% | +1.5% | +46.0% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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