Wealth manager Noah Holdings' Q2 net income rises on lower expenses
NOAH•Outlook
- Noah Holdings did not provide specific financial guidance for the current or future periods in its press release
Result drivers
- Lower insurance commissions — Co said revenue fell mainly due to a decrease in one-time commissions from insurance products and lower recurring service fees
- Cost control — Co said net income rose due to lower operating costs and expenses, including reduced compensation and benefits and a decrease in provision for credit losses
- Performance-based income — Co said higher performance-based income from mainland China private secondary products partially offset revenue declines
Q2 revenue and profit
- Noah Holdings' Q2 revenue fell 1.5% yr/yr on lower insurance commissions and service fees
- Q2 net income attributable to shareholders rose 30% yr/yr, aided by lower operating costs
- Non-GAAP net income attributable to shareholders increased 25.9% yr/yr
Key details and analyst coverage
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Revenue | RMB 619.90 mln |
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