Youdao, Inc. (DAO), a Chinese online content, communication, community, and other services provider, on Thursday posted a narrower net loss for the second-quarter, supported by increased revenue and decreased operating expenses.
For the three-month period to June 30, the company posted a net loss of RMB99.475 million or RMB0.85 per ADS, compared with a loss of RMB299.159 million or RMB2.45 per ADS, recorded for the same period of previous year.
Excluding items, loss was at RMB 95.966 million or RMB0.82 per share, narrower than a loss of RMB283.575 million or RMB2.32 per share a year ago.
Loss from operations declined to RMB72.553 million from a loss of RMB289.131 million in 2023.
Total operating expenses stood at RMB709.3 million, compared with RMB856.3 million a year ago.
Revenue was RMB1.321 billion, up from RMB1.206 billion a year ago.
Online marketing services generated revenue of RMB511.237 million, higher than last year's RMB303.557 million.
Feng Zhou, CEO of Youdao, said: "Looking ahead, with our teams' continued execution and barring unexpected market changes, we expect the business to achieve full-year positive operating income in the near future. Youdao's strength lies in our unique ability to advance AI empowerment across business lines, combining technical strength with operational excellence."
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