Shares of Youdao, Inc. (DAO) are rising more than 13% Thursday morning on narrower-than-expected third-quarter loss. Revenue also beat the view.
Youdao is an internet technology company, that provides online services in content, community, communication, and commerce in China.
Loss on an adjusted basis of $1.12 per share beat the average estimate of analysts polled by Thomson Reuters of $1.18 loss per share.
Revenue for the quarter increased 159% year-over-year $132.0 million. The consensus estimate was for $126.35 million.
DAO is currently at $28.59. It has been in the range of $13.22- $47.70 in the past 52 weeks.
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