Sunlands Technology Group (STG) Reports Q1 Loss of $1.36/sh
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Sunlands Technology Group Announces Unaudited First Quarter 2020 Financial Results
May 27, 2020 6:35 AM EDTBEIJING, May 27, 2020 /PRNewswire/ -- Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), a leader in China's online post-secondary and professional education, today announced its unaudited financial results for the first quarter ended March 31, 2020.
First Quarter 2020 Financial and Operational Snapshots
Net revenues were RMB565.1 million (US$79.8 million), representing a 0.2% increase year-over-year. Gross billings (non-GAAP) were RMB516.8 million (US$73.0 million), representing a 22.2% decrease year-over-year. Gross profit was RMB468.2 million (US$66.1 million), representing a 2.2% decrease year-over-year. Net loss was RMB65.6 million... More