Youdao’s Multiple Financial Indicators Exceed Market Expectations; Accelerates Commercialization with AI Applications
Youdao, Inc. American Depositary Shares, each representing one Class A Ordinary Share (DAO)
Company Research
Source: GlobeNewswire
Beijing, China, May 27, 2024 (GLOBE NEWSWIRE) -- On May 23, Youdao, Inc. (NYSE: DAO), an intelligent learning company with industry-leading technology in China, announced its unaudited financial results for the first quarter ended March 31, 2024. During the period, Youdao's generative AI applications rapidly accelerated its commercialization under its dual-drive strategy of "AI+education content," bringing steady growth across multiple financial metrics. Youdao reported that its total net revenues for the first quarter reached RMB 1.4billion, representing a 19.7% increase year over year. On the heels of its profitable 2023 fourth quarter, Youdao reported an income from operations of RMB 29.9 million in the first quarter, marking the first time it has posted two consecutive quarters of profitability. Non-GAAP net income attributable to Youdao’s ordinary shareholders turned positive, compared with the first quarter of last year, reaching RMB 20.3 million. The Company is also spendi
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News
- Results Beat Validates My Positive View Of Youdao [Seeking Alpha]Seeking Alpha
- Youdao's Multiple Financial Indicators Exceed Market Expectations; Accelerates Commercialization with AI Applications [Yahoo! Finance]Yahoo! Finance
- Youdao, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year [Yahoo! Finance]Yahoo! Finance
- Youdao Reports First Quarter 2024 Unaudited Financial Results [Yahoo! Finance]Yahoo! Finance
- Youdao Reports First Quarter 2024 Unaudited Financial ResultsPR Newswire
DAO
Sec Filings
- 5/23/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/25/24 - Form 20-F
- DAO's page on the SEC website