OppFi Inc. (OPFI) shares are rising on Friday morning trade after the financial technology platform reported a surge in third-quarter earnings.
Net profit for the third quarter increased 57.1 percent to $30.39 million or $1.06 per share from the previous close of $19.34 in the previous year. On an adjusted basis, earnings were $17.36 or $0.21 per share.
The quarterly revenues were up $91.98 million from $62.76 million last year.
For the full year 2021, the company reiterated revenue between $350-$360 million and adjusted earnings between $62 - $66 million. Analysts estimate $360.21 million on $0.76 per share.
Currently, shares are at $8.05, up 7.70 percent from the previous close of $7.47 on a volume of $513,501. For the 52-week period, the shares have traded in a range of $6.01-$11.60 on average volume of 292,796.
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