This Chinese Fintech Stock Is Executing Amid COVID-19 Disruptions
LexinFintech Holdings (NASDAQ: LX), a leading fintech in China, reported a mixed result for the third quarter of fiscal 2020 (ended Sept. 30, 2020). Revenue for the quarter rose 6% (in constant currency) while net income plunged 52% owing to higher processing and servicing costs and provisions.
But there's more to the headline numbers above for this online consumer financial services company. Here are my two biggest takeaways from the latest earnings result.
As an investor in LexinFintech, one of my biggest concerns for the company is how it has been faring amid the COVID-19 outbreak. And thankfully, its latest result alleviates some of my worries.
Source Fool.com
