Sunlands Technology Posts 22% Growth In Q2 Revenues

Sunlands Technology Group (NYSE:STG) reported second-quarter FY21 revenue growth of 22.8% year-on-year, to RMB629.5 million ($97.5 million).
The Gross billings for the quarter declined 19.1% Y/Y to RMB430.2 million ($66.6 million).
New student enrollments increased 4.8% Y/Y to 86,602.
Gross profit rose 28.9% Y/Y to RMB532.2 million ($82.4 million) with a margin of 84.5%.
The company held $137.1 million of cash and cash equivalents as of June 30, 2021.
It reported EPS of $0.52 for the quarter.
Outlook: Sunlands sees Q3 FY21 revenue of RMB570 million - RMB590 million.
Price Action: STG shares are trading higher by 3.93% at $0.5997 on the last check Wednesday.