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Strong Q1 Financial Performances: X Financial, Lizhi, Siyata Mobile; Weibo Beats Estimates

  • May 25th, 2023
  • 172 views

In the first quarter of 2023, X Financial (NYSE: XYF) showcased a strong financial performance, demonstrating its continued growth and success. The company's total net revenue reached an impressive RMB1,004.9 million, marking a year-over-year increase of 13.1% and a quarter-over-quarter increase of 5.2%. Furthermore, X Financial's net income per basic ADS saw a significant improvement, rising from RMB2.52 in the same period of the previous year to RMB5.94.

X Financial attributes its Q1 results to robust profitability and the positive impact of its ongoing share buyback program, aimed at enhancing shareholder value. The company is optimistic about its future performance, anticipating steady quarterly improvements in both its top and bottom lines throughout the year.

In pre-market, $XYF is trading at $4.34, reflecting a substantial increase of $1.24 or 40.00%.

Similarly, Lizhi Inc. (Nasdaq: LIZI) achieved exceptional results in the first quarter of 2023, reaching new record highs for both revenues and net income. The company experienced a remarkable year-over-year revenue growth of 22%, amounting to a new high of RMB631.0 million. Lizhi also demonstrated ongoing profitability, reporting a net income of RMB48.3 million, which signifies a 54% sequential increase and an impressive 194% year-over-year growth.

$LIZI is trading at $0.87 in pre-market, experiencing a significant increase of $0.17 or 24.43%.

Another company, Siyata Mobile Inc. (Nasdaq: SYTA), made a noteworthy comeback in the first quarter of 2023, showing signs of growth. The company's revenue for the quarter amounted to $1.8 million, more than doubling compared to the same period last year. This notable increase can be attributed to the strengthening sales of Siyata Mobile's mission-critical PoC (MCPTT) SD7 solution.

In pre-market, $SYTA is is trading at $0.15, reflecting an increase of $0.02 or 17.65%.

Furthermore, Weibo Corporation (Nasdaq: WB) reported an EPS of $0.47 for the first quarter of 2023, surpassing the consensus estimate of $0.43. 

$WB is trading at $16.39 in pre-market, experiencing an increase of $0.33 or 2.05%.

Please note that the stock prices and percentages mentioned are based on pre-market trading and may fluctuate as the market opens and trading progresses. It is advisable to refer to real-time market data for the most accurate and up-to-date information.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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