At the close of trading on Wednesday, shares of the online training and educational technology and services provider Wah Fu Education Group Limited (NASDAQ: WAFU) settled at price level of $12.50, up 51.15 percent from the previous day’s close.
In year-to-date trading, the share price of Wah Fu stock has risen 218.07% and hit a low of just $1.39 in the past 52 weeks. During that period, the highest price achieved by WAFU stock was $21.00. In Wednesday trading, the WAFU stock took off thanks to the release of impressive half-year financial results.
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What do the numbers say about WAFU?
Beijing, China-based Wah Fu Education Group Limited provides educational services including online training as well as exam preparation services. Furthermore, WAFU offers associated technology solutions and training materials that are used by universities, training institutions, and students.
Wah Fu yesterday announced its unaudited financial results for the six months ended September 30, 2020.
- Buoyed by the growth in revenue from online education services, revenue generated by WAFU increased 72.1% or $1.80 million to post $4.30 million in the reported period. Revenue for the same period of the prior fiscal year was $2.50 million.
- An increase of $1.44 million of 146.5% brought the gross profit of WAFU to $2.43 million to the half year ended Sep 2020, while it was a gross profit of $0.99 million in the same period a year earlier.
- Net income posted by WAFU for the six months ended Sep 2020 was $0.51 million while it was a net loss of $1.18 million for WAFU in the same period of prior year.
- Net profit margin at WAFU for Apr-Sep 2020 period improved to 11.9% from a net loss margin of 47.3% for the same period in 2019.
How WAFU generated more revenues?
Wah Fu (WAFU) increased e-learning courses in response to government restrictions in the wake of COVID-19, which halted its regular educational and teaching activities. The number of courses increased from 244,422 between April and September 2019 to 285,653 courses between those months of 2020. This increase in number of courses resulted in a noticeable increase in revenue for WAFU.
