Sunlands Technology Group Announces Unaudited Third Quarter 2020 Financial Results
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Sunlands Technology Group (STG) Reports Q3 Revenues Beat
November 18, 2020 5:42 AM ESTSunlands Technology Group (NYSE: STG) reported Q3 revenue for the quarter came in at $79.8 million versus the consensus estimate of $74.35 million.
Third Quarter 2020 Financial and Operational Snapshots
Net revenues were RMB541.6 million (US$79.8 million), representing a 2.7% increase year-over-year.Gross billings (non-GAAP) were RMB654.3 million (US$96.4 million), representing a 6.6% increase year-over-year.Gross profit was RMB448.7 million (US$66.1 million), representing an 8.5% increase year-over-year.Net loss was RMB165.8 million (US$24.4 million), compared with RMB129.8 million in the third quarter of 2019.Net loss margin, defined as net loss as a percentage of... More