Online education provider Youdao gains on revenue jump

Youdao

16/11/2021 18:50

** U.S.-listed shares of Chinese online education provider
Youdao Inc  DAO.O  up 16.6% at $17.6 - among top gainers on the
NYSE
    ** Stock at its highest level in almost 4 months
    ** Q3 total rev rose 54.8% y/y to 1.4 billion yuan ($219
million) urn:newsml:reuters.com:*:nPn5s5Cqta
    ** Net loss attributable to ordinary shareholders narrowed
to 128.9 million yuan, from 877.8 million yuan a year earlier
    ** Net loss per ADS was 1.05 yuan vs 7.73 yuan 
    ** Youdao's Academic AST Business, which it plans to dispose
to comply with China's regulatory requirements, accounted for
25% of total revenues in quarter
    ** The business comprises after-school tutoring service for
academic subjects in China's compulsory education system
    ** Currently expects the transaction to be completed by the
end of the year but provided no assurance on its timing or on
its closing


($1 = 6.3919 Chinese yuan renminbi)

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))