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Original headline: GSX’s third-quarter net loss of 930 million yuan, the share price fell 24.67% on Friday
[TechWeb]News on November 21, according to foreign media reports, GSX, a Nasdaq-listed online training company, released an unaudited third-quarter financial report. Revenues increased significantly, but went from profit to loss. The loss was 930 million yuan, and the share price fell sharply on Friday.
GSX’s financial report shows that their third-quarter revenue was 1.966 billion yuan, up from 557 million yuan in the same period last year, an increase of 1.409 billion yuan, a year-over-year increase of 252. 9% and even higher than 1.65 billion yuan in the previous quarter.
Although GSX’s third quarter revenue increased significantly year-on-year, their net profit did not increase accordingly, but transformed from profit to loss.
The financial report shows that GSX recorded a net loss of 933 million yuan in the third quarter of this year, compared to a net profit of 1.9 million yuan in the same period last year and a profit of 18.6 million. yuan in the previous quarter.
In the third quarter, Followers went from profit to loss, with a net loss of nearly 1 billion yuan, which also plunged its share price on Friday.
When the US stock market closed on Friday, GSX was $ 65.66, down $ 5.69, or 7.97%, from $ 71.35 at the close of the previous trading day.
When the US stock market opened on Friday, GSX’s share price of $ 56.6 was significantly lower than the previous trading day’s closing price. At an intraday low, GSX’s stock price fell to $ 53.75, from the close of the previous trading day. US $ 71.35 was down US $ 17.6, down 24.67%.
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