Stock Alert: China Online Education Climbs 13%

(RTTNews) - Shares of online education platform China Online Education Group (COE) are up more than 13% Tuesday morning after reporting upbeat fourth-quarter results.

The stock is currently at $33.78. It has traded in the range of $3.68- $37.19 in the last 52-weeks.

The company has reported breakeven for the first time in a quarter with net income of RMB1.5 million ($0.2 million) or $0.01 per ADR in the fourth quarter compared with net loss of RMB14 million in the same quarter a year ago. Excluding items, earnings of $0.04 beat the average estimate of analysts at $0.08 loss per share.

Revenue for the quarter increased 33.5% year-over-year to $57.2 million.

For the first quarter, the company expects revenue growth of 39.3% to 40.9%.

"...As school campuses have remained closed, hundreds of millions of students and teachers have turned to online platforms in an effort to maintain educational continuity....We are confident we can leverage our powerful online platform and our expertise in English language learning to make the high quality education resources available to more people," said Mr. Jack Jiajia Huang, Founder, Chairman and Chief Executive Officer of China Online Education Group.