China Online Education Group (COE) Reports Q2 Loss of RMB18.40/Share
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China Online Education Group Announces Second Quarter 2016 Results
August 23, 2016 5:06 AM EDTBEIJING, Aug. 23, 2016 /PRNewswire/ -- China Online Education Group ("51Talk" or the "Company") (NYSE: COE), a leading online education platform in China, with core expertise in English education, today announced its unaudited financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Financial and Operational Highlights
Gross billings were RMB195.2 million (US$29.4 million), a 162.9% increase from RMB74.2 million for the second quarter of 2015. Net revenues were RMB96.9 million (US$14.6 million), a 203.5% increase from RMB31.9 million for the second quarter of 2015. Gross margin was 64.9%, compared with 62.3%... More