Gaotu Techedu Announces Third Quarter 2024 Unaudited Financial Results
Gaotu Techedu Inc. American Depositary Shares (GOTU)
Company Research
Source: PR Newswire
BEIJING, Dec. 4, 2024 /PRNewswire/ -- Gaotu Techedu Inc. (NYSE: GOTU) ("Gaotu" or the "Company"), a technology-driven education company and online large-class tutoring service provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.Third Quarter 2024 Highlights[1]Net revenues were RMB1,208.3 million, increased by 53.1% from RMB789.4 million in the same period of 2023.Gross billings[2] were RMB1,069.2 million, increased by 67.2% from RMB639.3 million in the same period of 2023.Loss from operations was RMB490.1 million, compared with loss from operations of RMB99.5 million in the same period of 2023.Net loss was RMB471.3 million, compared with net loss of RMB57.7 million in the same period of 2023.Non-GAAP net loss was RMB457.2 million, compared with non-GAAP net loss of RMB41.7 million in the same period of 2023.Net operating cash outflow was RMB714.4 million, compared with net operating cash outflow of RMB209.9 million in the s
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GOTU
Sec Filings
- 12/4/24 - Form 6-K
- 11/27/24 - Form SC
- GOTU's page on the SEC website