Noah Holdings +3.6% after beat and guidance

Non-GAAP net income of $24.6M up 52.8% from a year ago. Non-GAAP net income per share of $0.44.

Total registered clients of 60,801 up 32.6%. Active clients of 3,538 up 36%.

Net revenue of $71.4M up 61.4%. Net revenue from one-time commissions of $22.9M up 0.4%. Net revenues from recurring service fees of $35.8M up 76.4%.

Operating margin of 39.6% slips from 41.6% a year ago amid the company's fast expansion.

Outlook: Full-year non-GAAP income expected to be $72M-$76M, representing a Y/Y increase of 27-34.1%.

Theresa Tang is stepping down as CFO on September 2, and a search for a replacement is underway.

Conference call is underway

Previously: Noah Holdings beats by $0.11, beats on revenue

NOAH +3.6% premarket

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