Why Shares of GSX Techedu Surged Today

Shares of GSX Techedu (NYSE: GSX) jumped on Tuesday after the Chinese education company reported its fourth-quarter results. GSX beat analyst estimates across the board, and both revenue and net income soared. The stock was up 11% at 11:40 a.m. EST.

GSX reported fourth-quarter revenue of 935 million yuan, up more than 400% from the prior-year period. That works out to about $134 million at current exchange rates, ahead of the average analyst estimate by about $12.6 million. Gross billings soared nearly 400% to 1.58 billion yuan, while total enrollments surged 290% to 1.12 million.

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Source Fool.com