17 Education & Technology Group Inc. (YQ) Reports Q2 Loss of $0.10/ADS

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17 Education & Technology Group Inc. Announces Second Quarter 2022 Unaudited Financial Results

September 13, 2022 5:00 PM EDT

BEIJING, China, Sept. 13, 2022 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (17EdTech or the Company), a leading education technology company in China, today announced its unaudited financial results for the second quarter of 2022.

Second Quarter 2022 Highlights1

Net revenues were RMB133.5 million (US$19.9 million), representing a year-over-year decrease of 80.1% from RMB670.9 million in the second quarter of 2021, and 11.2% higher than the high end of the estimate provided by the Company in June... More