Youdao, Inc. (DAO) announced its financial results for the third quarter, revealing a net income attributable to ordinary shareholders amounting to RMB 86.3 million. This marks a significant improvement from the previous year's net loss of RMB 102.9 million. Earnings per American Depositary Share (ADS) reached RMB 0.74, up from a net loss of RMB 0.85 per ADS in the same quarter of the previous year.
Excluding certain items, the non-GAAP net income attributable to ordinary shareholders was RMB 88.7 million, a notable turnaround from last year's non-GAAP net loss of RMB 67.3 million. The non-GAAP earnings per ADS stood at RMB 0.76, compared to a non-GAAP net loss of RMB 0.55 per ADS in the prior year.
The company's net revenue for the third quarter amounted to RMB 1.6 billion, reflecting a 2.2% increase compared to the previous year.
