China Online Education Group Announces First Quarter 2021 Results
First quarter active students increased by 37.0% year-over-year
First quarter GAAP and non-GAAP net income were RMB8.0 million and RMB16.8 million respectively
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BEIJING, May 17, 2021 /PRNewswire/ -- China Online Education Group ("51Talk" or the "Company") (NYSE:COE), a leading online education platform in China, with core expertise in English education, announced its unaudited financial results for the first quarter ended March 31, 2021.
First
Financial and Operating Highlights
Net revenues were RMB600.4 million (US$91.6 million), a 23.3% increase from RMB487.1 million for the first quarter of 2020.
Gross margin was 73.4%, compared with 70.4% for the first quarter of 2020.