BEIJING (dpa-AFX) - Youdao, Inc. (DAO), a Chinese learning services and devices provider, on Thursday reported a rise in its fourth-quarter net profit, helped by a decline in expenses. However, the firm registered a decline in revenue.
For the three-month period to December 31, 2024, the company reported a net profit of RMB83.003 million or RMB0.70 per ADS, higher than RMB56.482 million or RMB0.47 per ADS, registered for the same period last year. Excluding items, earnings were RMB 91.784 million or RMB 0.77 per ADS, compared with RMB 69.284 million or RMB 0.58 per ADS in 2023.
Income before tax stood at RMB69.912 million as against the prior year's RMB56.558 million. Income from operations was RMB84.176 million, up from RMB76.283 million a year ago.
Total operating expenses moved down to RMB556.577 million from RMB662.518 million in 2023. Cost of revenues narrowed to RMB699.045 million from last year's RMB741.720 million.
Revenue was RMB1.339 billion, down from RMB1.480 billion in the previous year. Revenue from Learning Services segment was down at RMB617.673 million, compared with RMB 784.012 million a year ago.
DAO was up by 3.64 percent at $10.81 in the pre-market trade on the New York Stock Exchange.
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