China Online Education Group Powered Industry to Witness Sustainable Growth by 2021
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BEIJING, May 18, 2021 /PRNewswire/ 51Talk (China Online Education Group,NYSE: COE), China s leading online education platform, was in the spotlight these days as it announced it has achieved its 6th consecutive quarterly earnings, following the release of its unaudited financial results for the first quarter of 2021 on May 17, 2021.
Founded in 2011, 51Talk registered a non-GAAP net income of RMB 16.8 million and GAAP net income RMB 8 million respectively.
The 10-year-old company s first quarter net revenues sustained a growing momentum and increased 23.3 percent year-over-year to reach more than RMB 600 million. The gross margin was 73.4 percent, in comparison with 71.7 percent for the fourth quarter of 2020.
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