Yiren Digital Q2 Net Income Rises; Total Net Revenue Up 65%

(RTTNews) - Yiren Digital Ltd. (YRD) reported second quarter net income of RMB 527.3 million, compared to RMB 254.5 million, prior year. The company said the increase was primarily due to the recovery of business volume and optimization of business structure. Income per ADS was RMB 5.9, compared to RMB 3.0. Adjusted EBITDA was RMB 661.7 million, compared to RMB 312.9 million, last year.

Total net revenue was RMB 1.32 billion, an increase of 65% from RMB 801.1 million, prior year. Revenue from financial services business was RMB 582.0 million, an increase of 33.3% from RMB 436.7 million. The company said the increase was due to an increase of small revolving loan products amid strong demand for consumption.

The company projects the total revenue in the third quarter to be between RMB 0.9 billion to RMB 1.1 billion.

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