DAO - Youdao reports Q1 results

2023-05-25 04:50:59 ET

• Youdao press release ( NYSE: DAO ): Q1 Non-GAAP earnings per ADS of -$0.57.
• Revenue of $169.4M.
• Gross margin was 51.7%, compared with 53.5% for the same period in 2022.
• Net loss from continuing operations attributable to Youdao's ordinary shareholders for the first quarter of 2023 was RMB204.4 million (US$29.8 million), compared with RMB95.4 million for the same period of last year.
• Non-GAAP net loss from continuing operations attributable to Youdao's ordinary shareholders for the first quarter of 2023 was RMB193.9 million (US$28.2 million), compared with RMB70.9 million for the same period of last year.

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