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NOAH Drops 11% On Lower Net Income In Q3

Chinese finserv company, Noah Holdings Limited (NOAH), saw its stock trading 11% lower on Wednesday after the company reported a drop in its net income in the third quarter.

The company reported a net income of RMB273.2 million or RMB4.04 per share, down from RMB285.6 million or RMB4.60 per share in the same quarter last year. On an adjusted basis, the earnings were RMB4.20 per share, down from RMB4.78 in the last term.

The stock is trading at $39.37, down $4.70 or 10.66% since the last close at $44.07. The stock opened at $40.50 in the morning. In the 52-week period, the shares have ranged between $29.41 and $52.77 per share.

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