GSX Techedu Inc. (GSX) reported earnings on Thur 22 Aug 2019 (b/o)

** charts before earnings ** 

 

** after earnings **

BEIJING, Aug. 22, 2019 /PRNewswire/ -- GSX Techedu Inc. (GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2019.

Highlights for the Second Quarter Ended June 30, 2019

• Net revenues increased 413.4% year-over-year to RMB353.7 million from RMB68.9 million in the same period of 2018.
• Gross billings increased 462.4% year-over-year to RMB599.4 million from RMB106.6 million in the same period of 2018.
• Gross profit margin increased to 71.4% from 61.4% in the same period of 2018.
• Non-GAAP gross profit margin increased to 72.6% from 61.5% in the same period of 2018.
• Income from operations increased to RMB16.2 million from loss from operations of RMB0.5 million in the same period of 2018.
• Non-GAAP income from operations increased to RMB31.1 million from RMB0.2 million in the same period of 2018.
• Total enrollments increased 250.3% to 592,000 from 169,000 in the same period of 2018.

Highlights for the Six Months Ended June 30, 2019

• Net revenues increased 437.9% year-over-year to RMB622.8 million from RMB115.8 million in the same period of 2018.
• Gross billings increased 436.8% year-over-year to RMB899.5 million from RMB167.6 million in the same period of 2018.
• Gross profit margin increased to 70.6% from 59.2% in the same period of 2018.
• Non-GAAP gross profit margin increased to 71.4% from 59.2% in the same period of 2018.
• Income from operations increased to RMB59.0 million from loss from operations of RMB4.7 million in the same period of 2018.
• Non-GAAP income from operations increased to RMB77.6 million from non-GAAP loss from operations of RMB3.8 million in the same period of 2018.
• Total enrollments increased 234.6% to 803,000 from 240,000 in the same period of 2018.