China Online Education Group Announces Third Quarter 2019 Results
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China Online Education Group (COE) Reports Q3 Loss of $0.01
December 9, 2019 5:55 AM ESTChina Online Education Group (NYSE: COE) reported Q3 EPS of ($0.01). Revenue for the quarter came in at $57.2 million.
Third Quarter 2019 Financial and Operating Highlights
Net revenues were RMB409.2 million (US$57.2 million), a 35.0% increase from RMB303.2 million for the third quarter of 2018.Gross billings[1] were RMB547.3 million (US$76.6 million), a 28.9% increase from RMB424.5 million for the third quarter of 2018.Gross margin was 71.7%, compared with 63.8% for the third quarter of 2018.GAAP net loss decreased 94.1% year-over-year to RMB5.3 million and sequentially decreased 83.6% from RMB32.4 million for the second quarter of 2019.Non-GAAP net loss... More