Youdao Swings To Profit In Q1, Revenues Up 19.7%

(RTTNews) - Youdao, Inc. (DAO) Thursday announced a turnaround to profit on 19.7 percent increase in first-quarter revenues compared to the prior year.

The quarterly earnings were RMB 12.4 million or $1.7 million from loss of RMB 204.4 million a year ago. On an adjusted basis, earning were RMB 20.3 million or $2.8 million.

On a per share basis, earnings were RMB 0.10 or $0.01 compared to RMB 1.67 last year. Chinese intelligent learning company's net revenues for the quarter were RMB 1.4 billion or $192.8 million compared to RMB 1.2 billion last year.

The smart devices contributed revenue of RMB 181.2 million or $25.1 million up 14.8 percent from the previous year. Online marketing services' revenue surged 125.9 percent to RMB492.7 million or $68.2 million, up from RMB 218.1 million in the same quarter last year.