-=GSX Techedu Inc. (GSX) reported earnings on Wed 2 Sept 20 (b/o)

GSX Techedu also discloses SEC investigation

Following a number of short-seller reports about the company from approximately February 2020 to approximately July 2020, the SEC's Division of Enforcement contacted the company, requesting it to produce certain financial and operating records dating from January 1, 2017. The company is cooperating with the SEC.

"We cannot predict the timing, outcome, or consequence of the SEC investigation. Prior to the SEC contact, the Audit Committee of the Board of Directors of the Company engaged third party professional advisers to conduct an internal independent review into these reports' key allegations."

Techedu misses by RMB0.10, beats on revs; guides Q3 revs above consensus

Reports Q2 (Jun) earnings of RMB0.29 per share, RMB0.10 worse than the S&P Capital IQ Consensus of RMB0.39; revenues rose 366.6% year/year to RMB1.65 bln vs the RMB1.59 bln S&P Capital IQ Consensus.

Co issues upside guidance for Q3, sees Q3 revs of RMB1.94-1.97 bln vs. RMB1.83 bln S&P Capital IQ Consensus.