Sunlands Technology Group (STG) Reports Q3 Revenues Beat
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Sunlands Technology Group Announces Unaudited Third Quarter 2020 Financial Results
November 18, 2020 5:10 AM ESTBEIJING, Nov. 18, 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 third quarter ended September 30, 2020.
Third Quarter 2020 Financial and Operational Snapshots
Net revenues were RMB541.6 million (US$79.8 million), representing a 2.7% increase year-over-year. Gross billings (non-GAAP) were RMB654.3 million (US$96.4 million), representing a 6.6% increase year-over-year. Gross profit was RMB448.7 million (US$66.1 million), representing an 8.5% increase year-over-year. Net loss... More