China Online Education Group (COE) Misses Q1 EPS by 7c, Miss on Revenues
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China Online Education Group (NYSE: COE) reported Q1 EPS of ($0.07), $0.07 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $23.2 million versus the consensus estimate of $26.52 million.
Outlook
For the second quarter of 2017, the Company currently expects:
- Net revenues to be between RMB179 million to RMB184 million, which would represent an increase of approximately 85% to 90% from RMB96.9 million for the same quarter last year; and
- Gross billings to be between RMB352 million to RMB359 million, which would represent an increase of approximately 80% to 84% from RMB195.2 million for the same quarter last year.
First Quarter 2017 Financial and Operational Highlights
- Gross billings were RMB325.1 million (US$47.2 million), a 110.1% increase from RMB154.8 million for the first quarter of 2016.
- Net revenues were RMB159.5 million (US$23.2 million), a 121.0% increase from RMB72.2 million for the first quarter of 2016.
- Gross margin was 65.7%, compared with 63.6% for the first quarter of 2016.
- Percentage of gross billings contributed by K-12 students was 68.7%, compared with 42.2% for the first quarter of 2016.
- Net cash provided by operating activities reached RMB30.5 million (US$4.4 million).
For earnings history and earnings-related data on China Online Education Group (COE) click here.
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