Youdao Q3 Loss Narrows

November 16, 2023 — 03:54 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Youdao, Inc. (DAO) Thursday reported a narrower net loss for the third quarter on improved revenue, compared to the previous year.

The quarter loss from continuous operations for the intelligent learning company was RMB 102.91 million or $14.10 million compared to RMB 183.92 million a year ago. Net loss per ADS was RMB 0.85, compared to loss of RMB 1.49 per share last year.

Revenue for the quarter increased to RMB 1.538 billion or $210.91 million from RMB 1.402 billion a year ago.

Feng Zhou, CEO of Youdao said, "Our previously implemented proprietary large language model Ziyue is receiving positive feedback from our users and its generative capabilities will continue to improve. Moving forward, we will maintain ongoing communication with our users to better meet their demands. In addition, we will also accelerate the deployment of our AI products and applications, continuously enhancing the user experience."

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Youdao Q3 Loss Narrows

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