China Online Education Posts Mixed Q2 Results

  • China Online Education Group COE reported second-quarter FY21 sales growth of 17.5% year-on-year, to RMB579.8 million ($89.8 million), missing the analyst consensus of $90.92 million.
  • Gross billings decreased 18.7% Y/Y to RMB549.9 million ($85.2 million). Active students rose 35.7% Y/Y to 404,700.
  • The gross margin for the quarter expanded 180 basis points Y/Y to 72.7%.
  • The operating loss for the quarter was RMB(33.8) million or $(5.2) million.
  • The company held RMB1.64 billion ($254.4 million) in cash and equivalents as of June 30, 2021. Operating cash outflow totaled RMB69.7 million ($10.8 million).
  • Non-GAAP loss per ADS was $(0.13) and Non-GAAP loss per share was $(0.01). The analysts had expected $(0.31).
  • Outlook: China Online Education currently expects Q3 net revenues of RMB550.0 million - RMB555.0 million, representing an increase of 2.1% - 3.1% from RMB538.5 million last year. This implies revenue of $85.18 million - $85.95 million, versus the consensus of $98.16 million.
  • Price Action: COE shares are trading higher by 10.5% at $3.15 in premarket on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!