GSX Techedu Inc. (GOTU) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the GSX Techedu Inc. first-quarter 2021 earnings conference call. [Operator instructions] Please note this event is being recorded on Wednesday, May 26, 2021. I would now like to hand the conference over to your first speaker today, Ms.
Sandy Qin, IR director of Gaotu. Thank you. Please go ahead.
Sandy Qin
Investor Relations Director
Thank you, Operator. Hello, everyone, and thank you for joining us today. Gaotu s earnings release was distributed earlier and is available on the company s IR website at ir.gaotu.cn. On the call with me today are Mr.
GSX Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results Beijing, March 5, 2021 - GSX Techedu Inc. (NYSE: GSX) ( GSX or the Company ), a leading online K-12 large-class after-school tutoring service provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020. Fourth Quarter 2020 Highlights1 - Gross billings2 was RMB3,146.5 million, a 99.3% year-over-year increase. - Gross billings of online K-12 courses increased 109.8% year-over-year to RMB2,923.0 million. Paid course enrollments3 increased 107.6% year-over-year to 2,275 thousand. - Paid course enrollments of online K-12 increased 112.8% year-over-year to 2,139 thousand. Net loss was RMB627.0 million, compared with net income of RMB174.5 million in the same period of 2019.
GSX Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
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BEIJING, March 5, 2021 /PRNewswire/ GSX Techedu Inc. (NYSE: GSX) ( GSX or the Company ), a leading online K-12 large-class after-school tutoring service provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020.
Fourth Quarter 2020 Highlights
- Net revenues of online K-12 courses increased 155.6% year-over-year to RMB1,975.2 million.
Gross billings
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Paid course enrollments
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Paid course enrollments of online K-12 increased 112.8% year-over-year to 2,139 thousand.
Net loss was RMB627.0 million, compared with net income of RMB174.5 million in the same period of 2019.