Stock Alert: Youdao Rises On Better Quarterly Results

By RTTNews Staff Writer ✉ | Published: 5/20/2020 10:37 AM ET

Shares of e-learning company Youdao, Inc. (DAO) are climbing more than 8% on the back of upbeat first-quarter results.

The company's loss on an adjusted basis narrowed to RMB1.45 (US$0.20) per ADS compared with RMB1.10 for the same period last year.

Revenue for the quarter increased 139.8% year-over-year at RMB541.4 million (US$76.5 million).

Gross billings of online courses increased by 287% year-over-year to RMB519 million.

Youdao stock gained nearly 90% in the recent months, currently trading at $28.70, close to its 52-week high of $29.50.

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