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360 DigiTech (QFIN) to Report Q1 Earnings: What to Expect?

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360 DigiTech, Inc. (QFIN - Free Report) will report first-quarter 2022 results on May 24 after the bell.

The company has had an impressive earnings history, having surpassed the Zacks Consensus Estimate in all of the past four quarters, delivering an earnings surprise of 33.9%, on average.

Expectations This Time Around

The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $633.4 million, indicating an increase of 15.3% from the year-ago quarter’s reported figure.

The top line is expected to have benefited from strong demand for consumer credit and growth in loan facilitation volume under its capital-light model. Net revenues from Credit Driven Services, and net revenues from Platform services are anticipated to have increased year over year in the quarter.

The consensus mark for the bottom line is pegged at $1.1 per share, indicating 17.9% year-over-year decline. The bottom line is expected to have been negatively impacted by an increase in operating expenses.

What Our Model Says

Our proven Zacks model does not conclusively predict an earnings beat for 360 DigiTech this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

360 DigiTech has an Earnings ESP of 0.00% and currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Performance of Some Other Business Services Companies

Within the broader Business Services sector, ManpowerGroup Inc. (MAN - Free Report) , Omnicom Group Inc. (OMC - Free Report) and Equifax Inc. (EFX - Free Report) recently reported first-quarter 2022 results.

ManpowerGroup’s quarterly results beat earnings and revenue estimates. Adjusted earnings of $1.88 per share beat the consensus mark by 20.5% and improved 69.4% year over year.

MAN’s revenues of $5.14 billion surpassed the consensus mark by 0.7% and inched up 4.5% year over year.

Omnicom reported earnings of $1.39 per share that beat the consensus mark by 8.6% and increased 4.5% year over year.

OMC’s total revenues of $3.4 billion surpassed the consensus estimate by 5.4% but declined slightly year over year.

Equifax’s adjusted earnings of $2.22 per share that beat the consensus estimate by 3.3% and improved 13% on a year-over-year basis. 

EFX’s revenues of $1.36 billion outpaced the consensus estimate by 2.4% and improved 12.4% year over year.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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