Youdao Reports Second Quarter 2024 Unaudited Financial Results
Youdao, Inc. American Depositary Shares, each representing one Class A Ordinary Share (DAO)
Company Research
Source: PR Newswire
HANGZHOU, China, Aug. 22, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.Second Quarter 2024 Financial HighlightsTotal net revenues were RMB1.3 billion (US$181.9 million), representing a 9.5% increase from the same period in 2023.- Net revenues from learning services were RMB643.8 million (US$88.6 million), representing a 5.5% decrease from the same period in 2023.- Net revenues from smart devices were RMB166.7 million (US$22.9 million), representing a 25.0% decrease from the same period in 2023.- Net revenues from online marketing services were RMB511.2 million (US$70.3 million), representing a 68.4% increase from the same period in 2023.Gross margin was 48.2%, compared with 47.0% for the same period in 2023."In the second quarter, our financial performance was robust, with operating cash infl
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