GSX Techedu closed 8.9% higher on Friday after the China-based educational services provider surprised investors with 4Q revenues that came in above the Street's estimates. However, it reported a wider-than-expected loss. GSX (GSX) reported 4Q revenue growth of 136.5% year-over-year to $338.9 million, driven by 155.6% growth in online K-12 courses. Analysts were expecting revenues of $329.4 million. Gross billings grew 99.3% year-over-year. GSX’s CEO, Larry Xiangdong Chen, said, “Our quarterly net revenues hit an all-time high of RMB2.2 billion...We attribute such outstanding growth and upsized scale to our highly efficient operations, as demonstrated by our net operating cash inflow of RMB636.4 million in the fourth quarter.
https://www.tipranks.com/news/gsx-techedu-reports-mixed-4q-results-street-sees-30-downside
GSX Techedu (NYSE:GSX)
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