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Stock impact report

17 Education & Technology Group Inc. Announces First Quarter 2021 Unaudited Financial Results

17 Education & Technology Group Inc. - American Depositary Shares (YQ) 
Company Research Source: GlobeNewswire
BEIJING, May 24, 2021 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (“17EdTech” or the “Company”), a leading education technology company in China with an “in-school + after-school” integrated model, today announced its unaudited financial results for the first quarter ended March 31, 2021. First Quarter 2021 Highlights1 Net revenues were RMB474.2 million (US$72.4 million), which exceeded the high-end of the Company's guidance by RMB4.2 million and represented a year-over-year increase of 107.1% from RMB229.0 million in the first quarter of 2020.Net revenues from online K-12 tutoring services were RMB463.0 million (US$70.7 million), representing a year-over-year increase of 118.0% from RMB212.4 million in the first quarter of 2020.Gross billings of online K-12 tutoring services2 (non-GAAP) were RMB603.5 million (US$92.1 million), representing a year-over-year increase of 125.7% from RMB267.4 million in the first quarter of 2020.Paid course enrollments3 were Show less Read more
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