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Net revenue Q1 Net revenue rose steadily for five consecutive quarters

via:博客园     time:2020/5/20 12:21:26     readed:745

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On May 20, Netease Youdao, an intelligent learning company, released its unaudited financial report for the first quarter of 2020. According to the financial report, Netease Youdao's net income in the first quarter of 2020 reached 540 million yuan, a year-on-year increase of 139.8%; among them, the net income of more than 80% of learning services and products reached 440 million, a year-on-year increase of 226.4%. In 2020, Q1 gross profit rate has been continuously optimized, reaching 43.5%. At the same time, according to the financial report, Youdao company as a whole realized positive operating cash flow in the first quarter of 2020.

According to the prospectus and financial report of Netease Youdao, this is the fifth consecutive quarter of steady and rapid growth of Youdao's business.

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Healthy and stable growth of excellent courses and continuous improvement of course quality

The growth of Youdao company's learning services and products benefits from the healthy and high-speed growth of Youdao excellent courses in K12 network school. In 2020, the sales volume of Youdao boutique reached 450 million, an increase of 311.9% year on year. The number of regular course payers reached 276000, and the number of K12 regular course payers reached 153000, a year-on-year increase of 358.7%.

It is worth noting that, after continuous optimization and adjustment of product structure and initial appearance of scale economic benefits, according to the financial report, in the first quarter of 2020, the gross profit margin of Netease Youdao learning service and product reached 48.7%, compared with 29.3% in the last quarter. Youdao said in last quarter's financial report that the experience of Youdao's excellent courses in Chinese and physics is rapidly copied to other disciplines, which has pushed Youdao's excellent courses into the stage of large-scale growth, and the engine of gross profit rate optimization has been launched. This quarter, there are two more excellent courses, namely, junior high school mathematics and senior high school English.

At the same time, in order to cope with the growing number of paying users, Youdao excellent course has maintained the expansion and construction of the faculty in Q1 2020, increasing the number of lecturers to 164 and tutors to 865. At the same time, the management and incentive mechanism of the teaching staff has been adjusted and improved, and the quality control management has been increased, so as to ensure the output of quality courses.

All along, youdao quality course in the teacher side actively promote the IP of famous teachers. On April 15, China's women's volleyball chief coach, Lang Ping, served as its brand spokesman

According to the financial report, the sales of intelligent hardware represented by Youdao dictionary 2.0 reached 53 million in the first quarter, up 188.7% year-on-year, due to the impact of offline channels. The business has gradually returned to normal in March, and plans to launch new hardware devices in the second half of this year.

The AI composition correction technology, which has been polished by Q1, Youdao AI Laboratory in 2020, has been widely used in various products including Youdao quality course and Youdao dictionary.

During the earnings call, NetEase Youdao CEO Zhou Feng said that continuous curriculum content and product innovation led to the growth of Youdao. And he's proposing something new

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