Puxin Limited Announces Third Quarter 2018 Unaudited Financial Results
Puxin Limited American Depositary Shares, each representing two Ordinary Shares (NEW)
Company Research
Source: PR Newswire
BEIJING, Nov. 26, 2018 /PRNewswire/ -- Puxin Limited (NYSE: NEW) ("Puxin" or the "Company"), a successful consolidator of the after-school education industry in China, today announced its unaudited financial results for the third quarter ended September 30, 2018.Third Quarter 2018 Financial and Operational HighlightsNet revenues were RMB669.7 million (US$97.5 million), representing an increase of 60.1% from the third quarter of 2017. Operating loss was RMB61.1 million, a decrease of 25.0% from RMB81.4 million in the same period of the prior year. Adjusted operating loss[1] was RMB41.8 million, a decrease of 38.6% from RMB68.1 million in the same period of the prior year. Net loss attributable to Puxin Limited was RMB50.2 million (US$7.3 million), a decrease of 53.0% from RMB107.0 million in the third quarter of 2017. Adjusted net loss attributable to Puxin Limited[2] decreased by 28.1% to RMB51.0 million from RMB70.9 million in the same period of the prior year. Cash and cash equivale
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